wilcherry reserve 11.1mt at 40.2%fe!!!

This maiden reserve was buried on slide 4 of IFE's SAREIC presentation dated 30 April 2012.

Great news. Now they have reserves IFE can make the rounds and talk to serious financiers (provided they have a BFS done that would survive peer review - I'm betting that's still on their to-do list)

I have avoided IFE since they commenced project development without having any reserves, and a few other reasons. It just looks like a bunch of amateurs headed for disaster.

So now one of the big red flags is dealt with, and they deserve a positive comment. But it's very odd that good news like this didn't get a separate press release and a prominent announcement. Or maybe this isn't good news - could it be that reserves must be much greater to support their mining and development plans?

As usual, announcements from IFE just raise more questions.