# TRF - Trafford Resources



## steven1234 (18 January 2007)

Hi guys, has anyone else got behind this one?  

I bought into it today after seeing a huge spike in volume yesterday.  After doing some research i thought it was worth backing.  An announcement is due any day now with the assay results of the weednana project.  This may explain the shift in volume.  Market capital is very low atm.  They are drilling for gold atm but the wild card will be uranium.  Management appears to be quite experienced (they are revisiting sites they previously looked at in the 80's...).       

Company was listed on 19 June 2006 and was oversubcribed by $1mil (shares at 20c).  Price closed at 40c today, spiked to 45c yesterday.

BUSINESS SUMMARY   
Trafford Resources Limited (TRF) is a gold, copper and uranium exploration company, with the projects located in South and Western Australia.

Wilcherry Hill Project (option for 100%):
The project is located 30 km north of the township of Kimba on the northern Eyre Peninsula of South Australia. At the Weednanna Prospect drilling returned 7m @ 18.5g/t Au and 13m @ 6g/t Au. Diamond drilling at the Telephone Dam prospect returned 4m @ 17.2% Pb and 8.9% Zn and 6.m @ 8.9% Pb and 6.4% Zn. At the Mawson prospect 29m @ 0.9% Cu were intersected. Trafford also believes project is prospective for Olympic Dam style uranium deposits. In regards with exploration, the Company intends to re-analyse selected samples from past exploration program for uranium content. At the Weednanna Prospect, RC and diamond drilling is planned.

Lynas Find Project (option for 80%):
The project is located 100km south of Port Hedland in the east Pilbara region of Western Australia and is prospective for gold. Trafford proposes to explore for the extension of existing resources and also for new gold resources within the area. The objective will be to create a gold resource inventory such that a feasibility study may be undertaken. Previous drilling intersected 10m @ 9.07 g/t Au and 6m @ 2.2 g/t Au. Company intends to conduct study of all available mine plans and exploration data, with a view to commence drilling on those targets, which offer the best prospect of increasing gold resources.

This is an interesting article from a few months ago: http://www.smh.com.au/news/Business/Trafford-raises-4m-through-IPO/2006/06/01/1148956466300.html 

Here's an interview from 27/09/06  http://www.brr.com.au/partner/minesite/event/TRF/2010/15541 


Anyone have an views on this one??  If the announcement due doesn't go well the other projects should get the price back up after the drop (as they are more promising than the current)


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## steven1234 (18 January 2007)

This is a good read from 30 May 06 (prior to listing)

http://www.montagu.com.au/research/trf3may06.pdf


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## steven1234 (29 January 2007)

An announcement is due this week.  

I'm keeping my fingers crossed.


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## julles (9 February 2007)

Going beserk today 44 Million tons of Iron Ore   

ABN 93 112 257 299
Level 2, 679 Murray Street
WEST PERTH WA 6005
Ph 08 9485 1040
Fax 08 9485 1050
admin@traffordresources.com
ASX/MEDIA Release
9th February 2007
TRAFFORD CONFIRMS 44 MILLION TONNES OF
PREMIUM QUALITY IRON AT WILCHERRY HILL –
LARGE UPSIDE POTENTIAL IDENTIFIED.
The directors of Trafford Resources Limited (ASX code: TRF) are pleased to
announce that the independent quantitative study of the Wilcherry Hill (South
Australia) iron deposits, undertaken by Maprock Pty Ltd has been completed.
Maprock report that at the Weednanna, Weednanna North and Ultima Dam
prospects there exists a total JORC compliant, indicated and inferred iron
resource of 44 Million tonnes to a depth of 150m at an average grade of
36.4%Fe. The resource was calculated utilising a 15% Fe lower cut off –
arrived at after study of metallurgical properties highlighted by Promet
Engineers in earlier reports. (See Table 1). Maprock have also identified an
exploration target potential, within EL3095, in the range of 300 to 600 Million
tonnes of iron rich, magnetite bearing material. (See methodology below).
Target Area Resource
Category
Tonnage Grade % Fe Comments
Weednanna 1 Indicated and
Inferred
27Mt 35% Associated
with significant
gold credits
Weednanna
North 2
Inferred 5Mt 35%
Ultima Dam
East 1
Inferred 12Mt 40%
Total Indicated and
Inferred
44Mt 36.4%
Table 1: Wilcherry Hill – Current JORC Indicated and Inferred Resource
Status
Maprock identified and studied 93 (ninety three) strong magnetic anomalies in
19 separate areas, contained within EL3095 - part of the Wilcherry Hill Project.
The investigation looked at over 21,000 iron assays from a total of 533
boreholes, most of which were drilled as part of earlier gold exploration. None
of the boreholes were believed to have deliberately targeted the iron bodies
and, as a result, the drilling has not fully tested the limits of the iron
mineralisation at any of the prospects. A number of regional and localised
aeromagnetic surveys were also studied in detail.
Three of the 93 magnetic anomalies( Weednanna, Weednanna North and
Ultima Dam East) were considered to have sufficient drill coverage for iron
assays to estimate resources in compliance with the requirements of the 2004
Australasian Code for Reporting Exploration Results, Mineral Resources and
Ore Reserves (The JORC Code), specifically continuity of the iron units.
Where drill data for iron are available the magnetic units are shown to be
caused by one or more sub -parallel, magnetite-rich ironstone units dipping
between 45 and 60 degrees to the east or west. The thickness of these
ironstone units ranges up to 65 metres. The most significant intersection is in
borehole 98WDDH004 (Weednanna) where 46 metres averaging 41% Fe was
intersected between 76m and 122m.
Exploration Tonnage Potential
In their extensive study of the available data base Maprock have reported on
the exploration potential as follows:
“Indications from the presently known geology, drilling results and airborne
magnetic data suggest that the exploration targets within Trafford’s EL 3095 in
the Wilcherry Hill project area, defined by more than 90 strong discrete airborne
magnetic anomalies with generally short strike length signatures similar in
nature to those with already drill defined resource estimates at Weednanna,
Weednanna North and Ultima Dam East, amount to an exploration target
potential in the range of 300 to 600Mt of iron-rich, magnetite-bearing
material down to a vertical depth beneath surface of 150 metres. This
potential quantity is only conceptual in nature as there is insufficient exploration
data currently available to calculate a defined Mineral Resource and it is
uncertain whether further exploration will actually result in the determination of
a Mineral Resource. A small number of additional magnetic anomalies present
elsewhere within the Wilcherry Hill Project tenements have a further but as yet
unquantifiable exploration potential for similar magnetite - rich deposits.”
Maprock comment on the importance of the significant gold mineralisation
within, or adjacent to, the iron units, such as the 11m @ 7.8 g/t Au within the
most significant iron intersection of 46 metres in 98WDDH004 at Weednanna.
Similarly the iron unit in 98WDDH001, which averaged 33% Fe over 34 metres
(2 – 36m), also contained 18m @ 12.4 g/t Au. Some of the gold mineralisation
appears to be located in the fold hinges of the iron units The coincidence of the
iron and gold mineralisation suggests that - subject to further test work – the
gold will report to the tailings following the magnetic separation process and
may then be recovered separately. This is likely to impact favourably on overall
project costs and the viability of a mining project, should one be developed.
Trafford announced on February 5th that it had engaged ProMet to carry out a
desk-top study of the potential of the Wilcherry Hill magnetite to provide the
basis for the development of an economically attractive mining and processing
operation.
ProMet’s report is expected in mid-March and Trafford’s directors will base their
future course of action for Wilcherry Hill on its findings.
Ian Finch
Managing Director
Tel: 08 9485 1040
Trafford Resources Limited (TRF) is a Perth-based mineral exploration company which
has been listed on the ASX since June 2006. Trafford’s primary focus is exploring for Iron
Oxide/Copper/Gold/Uranium (IOCGU) deposits in South Australia’s Gawler Craton.
The information in this announcement that relates to Mineral Resources, is based on information compiled
by Ian D. Finch, who is a Member of The Australasian Institute of Mining and Metallurgy and Mr. Fritz
Fitton also a Member of The Australasian Institute of Mining and Metallurgy as well as a Member of The
Australian Institute of Geoscientists. Both of whom have more than five years experience in the field of
activity being reported on. Mr. Finch is a full-time employee of the company and Mr. Fitton is employed by
Maprock Pty. Ltd.
Mr. Finch and Mr. Fitton have sufficient experience which is relevant to the style of mineralisation and type
of deposit under consideration and to the activity which they are undertaking to qualify as Competent
Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves’. Mr. Finch and Mr. Fitton consent to the inclusion in the report of
the matters based on their information in the form and context in which it appears.


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## steven1234 (9 February 2007)

This is my favorite bit

“Indications from the presently known geology, drilling results and airborne
magnetic data suggest that the exploration targets within Trafford’s EL 3095 in
the Wilcherry Hill project area, defined by more than 90 strong discrete airborne
magnetic anomalies with generally short strike length signatures similar in
nature to those with already drill defined resource estimates at Weednanna,
Weednanna North and Ultima Dam East, amount to an exploration target
potential in the range of *300 to 600Mt * of iron-rich, magnetite-bearing
material down to a vertical depth beneath surface of 150 metres. This
potential quantity is only conceptual in nature as there is insufficient exploration
data currently available to calculate a defined Mineral Resource and it is
uncertain whether further exploration will actually result in the determination of
a Mineral Resource. A small number of additional magnetic anomalies present
elsewhere within the Wilcherry Hill Project tenements have a further but as yet
unquantifiable exploration potential for similar magnetite - rich deposits.”


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## steven1234 (9 February 2007)

This has moved me into #1 in the stock tipping competition for Feb.  Whoho!


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## julles (10 February 2007)

Well done on being in early with this one Steven the company seems to have loads of potential.

Here's another article written by resource stocks in November 2006 an interesting read. 

http://www.traffordresources.com/ResourceStocks112006.pdf


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## aberfan (10 February 2007)

i have only today become aware of trafford, unfortunately. the article concerned talked of 40 mill. tons of premium iron ore,any advice on buying in now.


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## steven1234 (10 February 2007)

The announcement was made on Friday at 1.25pm.  Its hard to say if the market has digested this info fully.  The price reached 69c on Friday before dropping back to 63c.  

There was an investment seminar in SA today where TRF would have publicised the recent announcement.  

Where did you see that article today?


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## Halba (10 February 2007)

nup dun bother, iron ore grade 35%, and exploration potential are misleading.


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## dj_420 (10 February 2007)

i agree halba. grades are nothing special. i dont really know why market went so ballistic over the ann. well who can decipher the market? haha.

anyway look at other iron ore juniors JMS, YML, UMC all these guys have identified areas of iron ore 55% plus. oh yeah and lets not forget HLX and AQA iron ore JV!

each to his own but i would rather hold these guys with elephant tenements in pilbarra in middle of mining majors rather than low grade areas.

IMO once market fully digests ann we will see a retracement. just my two cents guys.


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## trader (11 February 2007)

This is a magnetite deposit which is easily seperated, someboby on another
site explained that after seperation this ore is @ 70 % Fe ( pure Fe O4 (magnetite) is 74 % Fe (26 % oxygen) which would then be equal to 95%
pure iron. Good luck to all that hold.


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## aberfan (11 February 2007)

article was in the australian, steven seems bullish but others not so keen,it certainly moved in the market. new to trading , i also am following jervois mining .


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## steven1234 (11 February 2007)

I will be holding on to this for a while, at least March when further announcements are made.  

Market cap is tiny so there is potential for the sp to rise, if the reserve is confirmed at 300-600mil tonnes this will rocket!

The iron potential did not attract me to this share.  It was the gold and uranium potential.  The IOCGU mineralisation in the region could hold a fair bit of uranium.  There are may unexplained magnetic and IP anomolies.  If you recall from the last announcement they drilled an IP anamolie looking for gold and found no gold.  The announcement said that further investigation was required to explain the anamolie.  We have had no announcements in relation to uranium yet.  Lets hope testing of the historical drilling comes up positive for uranium.    

This is highly speculative (well less now that they have 44m tones of iron) and i hope it pays off.  I expect they will now concerntrate on drilling to determine the limits of the iron reserve and i look forward to the results.  

I expect the price to rise tomorrow but expect a pull back after (there was already a pull back on Friday afternoon).  The price should rise in the lead up to the announcement in March and with further iron drilling announcements.  I guess the market will decide where the price should stop tomorrow, hard to say really.  I didn't expect the pullback from 69c to 62c on friday.  Lets hope it rises above the current level.


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## krisbarry (11 February 2007)

Its not an FMG just yet but it looks like its well on the way.


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## julles (12 February 2007)

Well at least it hit the papers.  

http://www.news.com.au/adelaidenow/story/0,22606,21200612-913,00.html

http://www.smh.com.au/news/Business...n-iron-ore-find/2007/02/09/1170524290660.html

http://www.miningnews.net/sectionstory.asp?sourceid=c21


I'm expecting a lot of tree shaking with this stock but will stand my ground and hold for mid-march.   

Julles


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## steven1234 (12 February 2007)

Heres a link to a power point presentation given on the weekend

http://www.traffordresources.com/TraffordPresTalk_Feb07_Final.ppt


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## ads (14 February 2007)

Hi,

I did buy some of this stock and I am pretty keen on it, it seems they have other potential, not just the iron and experienced management.  See what happens.


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## julles (16 February 2007)

Interest being shown again today.   I hope it's supported by an ann of some sort..  I picked up some options today so now hold both stock and options. 

Fingers crossed we get more resource news..


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## steven1234 (16 February 2007)

I picked up some more stock today.  I would expect further annoucements due soon in relation to assays of historcal drill results.  I hope we get the uranium announcement soon! (I assume that if they tested the historical drill results for iron, they could also test them for uranium??)

The desk top study is due mid March.


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## julles (19 February 2007)

They start drilling for Uranium targets today Steven, the share price is up due to the excitement of this stocks potential.


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## steven1234 (19 February 2007)

Lets hope it keeps climibing and has another run towards the end of the day.  There were some large parcels purchased today.  

Don't forget that we are awaiting assays for the 14 holes drilled.  Preliminary results were out for gold in 3 or so of the holes on 2 Feb 07... where are the remaining assays for a wide suit of elements??


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## moses (22 February 2007)

fwiw, I'd consider donning a parachute quick if I held this stock. DYOR and fast


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## steven1234 (20 March 2007)

Ignore the last post... This closed at 80c today.  A rise of 10.3% and a decent increase in volume.  

The desktop study announcement and uranium drilling results are both expected soon.  I expect the desk top study announcment to be out any moment and the price should rocket after this.  All things point to the study being positive. 

Tomorrow should be an interesting day.


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## jtb (20 March 2007)

steven1234 said:
			
		

> Ignore the last post... This closed at 80c today.  A rise of 10.3% and a decent increase in volume.
> 
> The desktop study announcement and uranium drilling results are both expected soon.  I expect the desk top study announcment to be out any moment and the price should rocket after this.  All things point to the study being positive.
> 
> Tomorrow should be an interesting day.




I hear you brother.
Have kept my mouth shut as its only me and 'the abyss' talking to ourselves on the OEL thread and I didn't want to lool like a w*&nker starting over here 
Too slow to get any more options today


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## julles (21 March 2007)

I will admit when Mosses posted that get out of the stock comment and we drifted to 60 I did start to get a little worried and I sold half my holdings.

    After yesterdays move I'm very glad I didn't sell all.


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## steven1234 (28 March 2007)

Desk top study was released after close today.

Lets watch this rocket tomorrow.


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## Uranium (29 March 2007)

Hello,

 Trf is doing nicely today hope some people got in early. I just bought some @ .92 and will hold for long term.

Dom


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## jtb (30 March 2007)

Now for HLX's turn.

And by the way-


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## steven1234 (30 March 2007)

Another great day for TRF.  Up 24% on top of yesterdays 25%.    

I expect we will have uranium assay results this time next week or the week after.


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## ads (3 April 2007)

Guys,

What do you think about Trafford's recent fall?  A bit of a natural correction from the previous two days?  I am thinking it is a bit overstated and there is some bargain hunting go on, but as always we shall see.


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## jtb (3 April 2007)

ads said:


> Guys,
> 
> What do you think about Trafford's recent fall?  A bit of a natural correction from the previous two days?  I am thinking it is a bit overstated and there is some bargain hunting go on, but as always we shall see.




Have look at the chart mate .
I'm out and will look to get back into the options around 70c.

Best of luck


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## steven1234 (10 April 2007)

What a day, up another 25%, closed at $1.55 and sellers have dried up.  I can only see 6 sellers at close today.  

This just keeps getting better and better.  India is taxing export iron, the media has been covering iron quite well in the past few weeks and uranium assays should be due any day now.  

$2 now looks quite possible with decent assay results being announced, or is the recent rise on account of uranium speculators jumping on board and pushing the price prior to any announcement?  Even if a punt on the assays being positive fails, this should climb as the iron resource is defined.


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## Uranium (16 April 2007)

Hello,
TRF buyer at $2 today. It has been slowly crawling up last 3 weeks. 
I dont Hold.

Dom


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## steven1234 (16 April 2007)

Dom, may i ask what made you sell?  You said it was a long term hold for you in your earlier post.  Would you get back in?


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## tt1900 (18 May 2007)

hi, guys

Any thoughts on this stocks? 

Will the preferential entitlement to shares in IronClad Mining, which is the new Iron ore company, have some positive influence on the share price?

Cheers,

Di


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## steven1234 (19 May 2007)

I'm a firm believer of TRF.  I'm holding this as a long termer.  

It looks like there is quite a lot of potential in iron resource.  There is 44mil tonnes proved up at the moment.  Potential for 300 to 600mil tonnes anounced.  I would expect/hope they prove up more as there are quite a lot of magnetic anomolies that have not been drilled or assayed for iron.  The 44mt was provded up using historical drill samples for other elements.  Once Ironclad is up and running and cashed up we should see them assaysing more historical drill samples and drilling some of the other magnetic anamolies and before long this should get the iron resource to the next level (i hope!!).

When i got onto TRF i didn't expect anything from the iron.  All this iron upside is a bonus.  TRF is handing most of the resource to Ironclad so that it can develop the project at no cost to TRF.  If the resource grows to the next level this will be a positive for TRF as it will have direct and indirect exposure through the shares held and the % of interest held.  I have no doubt that Ironclad is a viable operation and will produce one day.

It doesn't look like the preferential allocation to TRF holders of ironclad shares is haveing a great impact on the price of TRF.  The details of the allocation still remain unclear.  There is no big push to buy up TRF shares to get into Ironclad as there is no indication that a large holding in TRF will guarantee the opportunity to buy in big into Ironclad.  

It will be interesting to see how many option holders have converted their options.  This should give TRF some more cash to play with.  

I'm looking forward to TRF getting back to hunting for more resources and hope that we get some positive results from historical assays for uranium.  This should put another rocket on the price of TRF.  Due to the small number of shares on issue, any positive announcement for TRF or Ironclade should get it running hard.


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## tt1900 (19 May 2007)

that's cool, steven, what you said giving me some confidence holding it. I made some money out of it when brought at 1.46 and sold at 1.64 after the big fall from the $2. Now, I bought it at 1.36, 1.23, 1.205 and 1.14. My friend told me its chart looks like a decreasing triangle with constant lows and lower highs, and if the share price breaks the lows, it will plunge deeper, even below $1. I was worried.


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## steven1234 (20 May 2007)

I noticed the descending triangle as well.  I don't think TA applies well to a share with such a small market cap and where such a small volume of shares is being traded.  

Lets hope the ironclad prospectus has some good news in it that helps get the TRF share price back on the right track in the immediate short term.  

I think part of the recent sell off of TRF can be attributed to holders who were hoping for some freebie in Ironclad of somesort.  

It looks like we have good management in place, lets see what they can do for us.


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## tt1900 (21 May 2007)

There is a big buy depth this morning, today will be an interesting day. It seems the 1.18 have the support.


Trafford Resources Limited (TRF)
(Trading Status: PRE_OPEN)
As at 21/05/2007 9:23:44 AM
Real-Time
Last Trade 	Today's Change 	Volume 	Trades 	Open 	Today's High 	Previous Close 	Today's Low 	Trading Basis 	Data Mode 	
1.180 	0.000
(0.000%) 	0 	0 	1.180 	1.180 	1.180 	1.180 	Normal 	Real-Time
Live Quote | Market Depth | Charts | Interactive Charts | News | Company Profile | Recommendations
Buyers
Number	Quantity	Price
1	460	1.210
4	16000	1.200
1	50000	1.180
2	1500	1.150
4	55596	1.140
1	15000	1.120
2	13000	1.100
1	6000	1.085
1	9900	1.010
2	8000	1.000


Sellers
Price	Quantity	Number
1.185	6250	1
1.195	4000	1
1.200	70000	1
1.210	7100	1
1.250	14525	2
1.270	6175	1
1.275	7000	1
1.280	9600	1
1.290	15000	1
1.295	4900	1

Last 10 Trades
Time	Price	Quantity
No Trades Today


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## steven1234 (21 May 2007)

A link to an article published in the West Australian.  

http://www.intecept.com/traffordresources.com/images/stories/newspaper/070521-West Austrailan.pdf


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## tt1900 (22 May 2007)

hi, steven

Is today's fall due to lost of preferential entitlement? because the record day is 25th, so the ex-day is today.

thx


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## steven1234 (22 May 2007)

I don't think so.  Holding many TRF shares will not guarantee getting a large share of Ironclad shares.  It looks like shareholders will only be offered a total of 5mil shares preferentially.  Had the allocation have been pro-rata i would have expected TRF to have run up towards today and down afterwards.  

Hopefully we will get a little run on TRF once the prospectus for ironclad is issued.  Having such a small market cap, it doesn't take much to make TRF run at all.


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## steven1234 (23 May 2007)

The IronClad Mining prospectus is available from the Ironclad website.

http://www.ironcladmining.com 

Prospectus:  http://www.intecept.com/ironcladmining.com/images/stories/prospectus/ironclad_prospectus.pdf


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## tt1900 (24 May 2007)

The issue price is $1 per share, will you guys invest in the IPO of ironclad? 
I noticed the IPO investment in Australia is associated with a huge risk, not as the same as in my home country, where the chances of getting an IPO is very small, but with a definitely 50% plus return.


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## steven1234 (24 May 2007)

I'll apply for a small parcel.  I don't want to apply for too much as there is no guarantee i will get it (the issue is not prorata to current holders).


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## boy_888 (29 May 2007)

guys TRF has been sliding since the record date. does anyone think it can recover, expecially when Ironclad lists and TRF's stake is realised?


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## tt1900 (6 June 2007)

finally, good news showed up, sp rose nearly 18% a day. 

any comments on how far can this run go?

I would hold it until the Ironclad gets the quotation on ASX at least.


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## steven1234 (6 June 2007)

I bought more TRF instead of investing in Ironclad.  So far so good.  

If Iron was the only asset held by TRF, TRF would not have spun it off.  The director's must expect something good in the future.  Something so good that they don't want the dilution of deveolping the iron to adversly effect it.  

I expect another rise once Ironclad lists, or when the subscription is full and investors decide to invest in Ironclad indirectly through TRF


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## tt1900 (15 June 2007)

Another good new showed up. The Ironclad was fully subscribed two weeks before the close date. 

I will expect the subsidiary of TRF lists on a premium, which would increase the value of TRF more than 20m. The current book value of TRF is 4.5m. If keeping the same P/B ratio, the sp would at least rise to $5. . Another MTN, I guess.


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## steven1234 (29 June 2007)

Things looked better for TRF today.  At one stage today TRF was up 22%.

Should be a sign of things to come once IFE lists and opens at a premium.


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## Damuzzdu (2 July 2007)

I also rang the company TRF (a few days later) and posted this on HC. Again for the benefit of ASF members without access to that other forum.

on 28/6/07 I posted:

"Ok rang the company yesterday...wanted to find out what is happening. Spoke with their senior geologist, had about 15 minutes chat.

1. They are still waiting for assay results for last drilling Au & U in 3070 (has now been 8 weeks !!!) Hopes to have v.soon, pushing as hard as he can.

2. In conjunction with IFE have 1 RC rig organised for furthur drilling at wilcherry hill (3070) TRF have everything there but the iron-Ore. Trying to get another rig. They will targeting some different targets this time looking for Gold.

3. Drilling to start on 3272 (to the west 3070) where they are very excited about this ground and finding something on their IOCGU modelling.

All this should be underway by early August.

4. They are awaiting final documentation and approvals from ZFX to start project work on 3272 looking for zinc and lead, and want to fast track this considering what TZN have with ZFX.

5. Lynas (NW WA - Pilbara) Gold, work on this should start pretty soon, once all the IFE stuff/IPO/drilling is organsied and underway.

Sounded very upbeat (well I guess he would as works for them), but things should start happening soon. He said the IFE IPO has been big undertaking and the staff are working flat out to get things moving asap.

Hope this helps to give an outline for fellow TRF shareholders."

I see TRF & IFE as one of the stocks to watch in 2007/2008.

Cheers all


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## tt1900 (9 July 2007)

another great day for trf, sp rose nearly 10% in the last half hour, end up 1.245, rose 17.5%. 

it would be interesting to see how far the sp would go after ife list on this Thursday.


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## Damuzzdu (9 July 2007)

tt1900 said:


> another great day for trf, sp rose nearly 10% in the last half hour, end up 1.245, rose 17.5%.
> 
> it would be interesting to see how far the sp would go after ife list on this Thursday.




tt1900,

Actually IFE lists this Wednesday at 1pm per IFE announcement. Also the free float of IFE will be around 15M only as the rest will be held by top 20 shareholders.

cheers
Muzz


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## tt1900 (18 August 2007)

The latest results came friday afternoon.

The seller from 0.88 upwards seems disappeared. 

As I cant really interpret the mining language in the news, can someone help me to know how good the news is? or it is not that good at all?

Regards,

Di


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## steven1234 (4 September 2007)

The IFE announcement woke the TRF share price today, up 8.7%, despite all the news being posted being old news.  

We already knew that it would not take much more drilling to increase the jorc resource (the current jorc resource was defined with drilling not aimed at the iron).  We also knew that TRF would get to assay all the drillings by IFE (and Zinifex) for other goodies. Unless i have interpreted it wrong, TRF will also get to take the goodies left over after the iron is extracted by IFE.  This is great, IFE will drill and extract all the gold which is within the iron resource for TRF.


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## steven1234 (5 September 2007)

Guess what, its up anther 8.7% today....  what a conincidence.  It was up the same amount yesterday but on both days it was sold down on close....


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## greenfs (5 September 2007)

I predict that you will solid gains in the sp for this stock over coming weeks based upon the DMI trends in the current graph for this share. My guestimate is that it could reach $1.25. I am not a holder of this stock.


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## steven1234 (9 October 2007)

TRF closed today at $1.30 on strong volume.  IFE also had a great day closing at $1.85.  

I would expect that TRF ran today on the back of IFE and the future iron price expectations.  Todays trading gives a good indication of what will happen to IFE and TRF when we get positve announcmenets and interest and volume increases.


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## lucifuge (13 February 2008)

TRF news today with merger with Zinifex!

headline is:

"Trafford and Zinifex sign $8.5 million Farm In Agreement"


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## surfingman (13 February 2008)

lucifuge said:


> TRF news today with *merger* with Zinifex!
> 
> headline is:
> 
> "Trafford and Zinifex sign $8.5 million Farm In Agreement"




Is that a merger or a farm in agreement? They are very different things.

They have signed a Joint Venture agreement, its a partnership where one company allows the other to enter there tenements and explore for minerals at a set outlay outlined in an agreement, this case it's $8.5 million.


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## steven1234 (25 April 2008)

TRF will be at the next AMEC conference at Melbourne on 10 May 2008.

IFE will be at Sydney on 3 May 2008.

http://www.amec.org.au/pages/newsEvents.aspx?CategoryID=2 

Anyone been to these tyoe of presentations?  Is there any gain to be had in attending these meetings?


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## steven1234 (7 May 2008)

It looks like TRF has broken out of its downward trend.  

I was suprised to see no sellers for the options yesterday (as in not a single seller in the que at all)


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## jonojpsg (10 December 2009)

All right people, put Trafford back on the watchlist!

Current MC is approx $27m.

They hold 50% of IFE which is worth $15m at todays SP
They hold 7m shares (after distribution) in ROL which is worth about $8m at todays SP

They are free carried to 20% of the Wilcherry Hill iron ore project that IFE is developing.  Aiming for early startup 2MTpa from Sep 2010.  Give a consevative value to this 20% of $5m say?

They ave about $3.5m cash.

*All up that gives a current value of about $-4.5m to TRF itself.*

I would say there has to be some rerating, on top of the jump from low 20s to current SP of 40c.  I'm just kicking myself that I didn't get in last week when I was looking at them, although have made some nice trades on IFE and ROL in that time so probably makes me OK


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## McCoy Pauley (10 December 2009)

But for a breakdown in my employer's internet connection I would have bought in at a lot cheaper than 39.5c per share that I did manage to acquire shares with.


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## condog (10 December 2009)

You wouldnt have got in anyway, all the pre-eureka watchers got in first, but somehow some of them had earlier notice then the rest...(opinion only not fact, and no its not apsersions or allegations) it just seemed it had a rush befre the report hit the web site or inbox, by about a half day or so....Perhaps whatever broker Haselhurst is using is letting the cat out of the bag or one of his staffers or someone is following him with big volumes prior to the rest of us finding out.... Its still dirt cheap at 40c ....I dont know how i never noticed it prior to this....

Disc - yes i own this stock and may sell at any time, seek your own advice, this is only opinion and should not be relied or acted upon. I may profit from you or others purchasing. Etc


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## Ajax (13 December 2009)

Condog,

I tried follwing Haselhurst's tips years ago.

Trouble was often I could not get the buy price he got. This was when he published the Speculator? column in a magazine that included Times magazine.

I tried everything to get the report early.

In the end I gave up on following his portfolio as I just couldn't get the low buy prices he got on many stocks (and so Haselhurst's profits on his notional were over stated for us mere mortals) 

Even so he had quite a few fantastic buy recommendations ...including Hardman Rersources which I bought at I think 6c.


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## dadzi (14 December 2009)

Hey guys, I just joined this forum yesterday - looks like a good thing! Anyways, I bought into TRF a few months ago at $.22 and since then it hasn't done much at all until recent times. However, I could never bring myself to sell the stock because, based on my very simple calculations (I follow the KISS principal) it was totally undervalued by the market and I felt it was ready to kick at any time.

Ajax, your comments on David Hasulhurst (The Speculator) ring true, and it is a well known fact to anyone who follows his portfolio that the gains he receives are impossible to replicate over the same investment period because he always gets in at a lower price. HOWEVER, what Hasulhurst is awesome at doing is shedding light on small cap shares that would otherwise fly under the radar. I got onto TRF following David's advice after he bought in at $.185 on the 16/06/09. I waited for the post-speculator trading boom to subside before buying in at $.22. David then sold at $.245 on 16/09/09. You can see that there was only 6 cents per share of profit to be made between his BUY and SELL orders (ignoring transaction costs and daily hi-lows) and that anyone who bought and sold when they heard of his movements would make even less than this. Although, had they have held on to the stock they could now be enjoying prices such as today’s high of $.45 (ie. increases of 100%+). 

So in my opinion, whilst Hasulhurst's profits are impossible to replicate over the same investment period, if he puts you onto a good value stock with a lot of potential then it is up to you what kind of profits you can make from it. I feel TRF still has a great upside potential and will be holding this stock for some time to come. I will also continue reading Hasulhursts column, especially since he made me some more money recently by getting back into TRF which is without a doubt a contributing factor in the companie’s recent price rally!

Disc: I have no association with David Hasulhurst or his column other than reading it and enjoying making money. I own shares in TRF. Yeh boi.


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## Miner (14 December 2009)

dadzi said:


> Hey guys, I just joined this forum yesterday - looks like a good thing! Anyways, I bought into TRF a few months ago at $.22 and since then it hasn't done much at all until recent times. However, I could never bring myself to sell the stock because, based on my very simple calculations (I follow the KISS principal) it was totally undervalued by the market and I felt it was ready to kick at any time.
> 
> Ajax, your comments on David Hasulhurst (The Speculator) ring true, and it is a well known fact to anyone who follows his portfolio that the gains he receives are impossible to replicate over the same investment period because he always gets in at a lower price. HOWEVER, what Hasulhurst is awesome at doing is shedding light on small cap shares that would otherwise fly under the radar. I got onto TRF following David's advice after he bought in at $.185 on the 16/06/09. I waited for the post-speculator trading boom to subside before buying in at $.22. David then sold at $.245 on 16/09/09. You can see that there was only 6 cents per share of profit to be made between his BUY and SELL orders (ignoring transaction costs and daily hi-lows) and that anyone who bought and sold when they heard of his movements would make even less than this. Although, had they have held on to the stock they could now be enjoying prices such as today’s high of $.45 (ie. increases of 100%+).
> 
> ...



Dadzi

Welcome to the Forum.
You have made a good decision like all of us and please do participate with your regular contributions and exchange your thoughts.

I am glad to see you have been a long investor for TRF. 

TRF is also a major share holder of ROL. It is really a robust relationship and considering the recent price hikes of ROL, looking into strength of TRF on its own, I personally believe TRF is still not on radar for many of us and undervalued. 
I do hold it for medium term investment but please DYOR.


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## dadzi (14 December 2009)

Thanks Miner,

I look forward to a lot of interesting discussion on trading in the future!

Just a question for you guys: Has anyone ever experienced an "_in-specie distribution_" like the one proposed by TRF? I like that we're going to be given direct exposure to the awesomely performing ROL, but I'm wondering about the terms of such a distribution. TRF stated that they're making the distribution _"to reward shareholders who maintained their confidence in the Company during the share market collapse of 14 months ago"_. However, does this mean that the distribution will only be available to shareholders who have owned TRF shares for >14months or is it more likely that all current shareholders at a yet to be determined future date will be entitled?

I've been advising my friends to invest in the company under the impression that they would be entitled to the distribution, but upon reading the companies announcement more closely I'm now unsure whether they'll be entitled or not??

Any help would be greatly appreciated,
cheers.


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## McCoy Pauley (14 December 2009)

Good question, dadzi.

Until TRF releases more details about the planned in-specie distribution, IMO, it's hard to give a sensible answer to the question.

I would imagine that there is no such thing as a free lunch, though.


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## SUNYA2006 (14 December 2009)

dadzi said:


> Thanks Miner,
> 
> I look forward to a lot of interesting discussion on trading in the future!
> 
> ...




All registered shareholder have the right to acquire this reward in registered date at the proportion 1:20. Otherwise it will violate the game rule. Such sentences have been declared clearly in annoncement.


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## McCoy Pauley (14 December 2009)

SUNYA2006 said:


> All registered shareholder have the right to acquire this reward in registered date at the proportion 1:20. Otherwise it will violate the game rule. Such sentences have been declared clearly in annoncement.




From the ASX announcement:



> The distribution, which is valued at $4.1 million on yesterday's closing price of $1.14 for Robust shares, will be made to all who are registered shareholders in Trafford *on a date to be determined* in accordance with ASX Listing Rules.




Until TRL has actually worked out when the date is, it's still somewhat nebulous as to whether those shareholders who recently purchased TRL shares (such as myself) are entitled to receive ROL shares pursuant to the in-specie distribution.


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## Miner (15 December 2009)

dadzi said:


> Thanks Miner,
> 
> I look forward to a lot of interesting discussion on trading in the future!
> 
> ...




Good question

The word equity itself means whatever is given to an equity share holder has to given to all equity holders unless the date of allotment dictates otherwise,

In this case does not matter what, once the date of holding is declared all equity share holders will be eligible for bonus share on the same basis. They can not provide bonus for only 14 months holding. It will not be illegal but huge tax implication (this is neither  a financial nor a tax advice) 

There are some latin jargon called parri passu and pro rata. Both of them will be applicable for the equity share holders. So enjoy and until the trading halt is declared all dates are deemed to be same for all purchasers. Please seek appropriate expert advice and this is my thought only.


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## condog (16 December 2009)

I concur....I am not a broker, solicitor or financial advisor, but my understanding is the trading halt must be the date chosen otherwise they would be in breach of full disclosure regs, as all shareholders are not equal and have not been advised.  As such a trading halt used as the date could be the only legal and acceptable date to choose.

Do your own research, but I cant see any way they can use any other date without getting heavily fined or worse. And given ASIC is running around beating thier chest and trying to show their teeth after the recent fiascos and regulatory failures....small companies like TRF can ill afford to be the ones made an example off....My money is on trading halt day...


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## condog (16 December 2009)

*More than 60metres of continuous gold intersection on Romang*

Another big find relative to the size of the companies ....

ROL found More than 60metres of continuous gold intersection on Romang

TRF has rocketed along with ROL on the result


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## McCoy Pauley (16 December 2009)

The latest Eureka Report hit my inbox.  Haselhurst doesn't say anything about selling out of ROL but bought an additional 10K package of TRF shares at $0.41/share to go with his initial 10K package of shares at $0.33/share.


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## condog (16 December 2009)

McCoy Pauley said:


> The latest Eureka Report hit my inbox.  Haselhurst doesn't say anything about selling out of ROL but bought an additional 10K package of TRF shares at $0.41/share to go with his initial 10K package of shares at $0.33/share.




It was in last weeks report. He sold ROL to buy TRF due to the in spiecies / options offer on TRF for ROL in january...  Aparently TRf are still cum...???? please check??


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## Miner (17 December 2009)

McCoy Pauley said:


> The latest Eureka Report hit my inbox.  Haselhurst doesn't say anything about selling out of ROL but bought an additional 10K package of TRF shares at $0.41/share to go with his initial 10K package of shares at $0.33/share.




McCoy
Please read it again.

What he said at the start :

PORTFOLIO POINT: We double our holding in Trafford Resources ready for a free distribution to shareholders of stock in gold prospecting sensation Robust Resources.


" *Last week we took profits on Robust *Resources (ROL) as the stock soared on sensational drilling results from its gold project on Indonesia’s Romang Island, 500 kilometres northwest of Darwin. (_He already told this last week but did not ask to add  TRF then_ )

The announcement, made late on December 9, said registered shareholders in Trafford “*on a date to be determined*” will be entitled to a distribution of one Robust share for every 20 Trafford shares held.

By adding another 10,000 shares bought this week at 41 ¢ to the 10,000 Trafford shares bought last week at 33 ¢, we’ll have a holding of 20,000 shares at an average cost of 37 ¢. Come the new year, we will be entitled to 1000 Robust shares in the planned free distribution, with a value yesterday of $1170 at Robust’s price of $1.17."


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## dadzi (17 December 2009)

Great day so far guys (up 25% at time of writing). How do you guys feel the In-Specie distribution will affect this one? Clearly it's that distribution, which was heavily discussed by David Hasulhurst (the Speculator) in his latest article, that is a major driver for this rally. Do you feel punters have priced the distribution into TRF and that the price will drop dramatically once entitlements have been granted?


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## condog (17 December 2009)

dadzi said:


> Great day so far guys (up 25% at time of writing). How do you guys feel the In-Specie distribution will affect this one? Clearly it's that distribution, which was heavily discussed by David Hasulhurst (the Speculator) in his latest article, that is a major driver for this rally. Do you feel punters have priced the distribution into TRF and that the price will drop dramatically once entitlements have been granted?




Its definitely priced in now. Not saying it wont go higher, in fact IMO it will, but the in specie is priced in for sure...It is of signifcant value at around 11-14c per TRF share, but they are also responding to the positive drilling results, which potentially hold significantly more upside then the ROL in specie.


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## jonojpsg (18 December 2009)

condog said:


> Its definitely priced in now. Not saying it wont go higher, in fact IMO it will, but the in specie is priced in for sure...It is of signifcant value at around 11-14c per TRF share, but they are also responding to the positive drilling results, which potentially hold significantly more upside then the ROL in specie.




Hang on again Condog, you need to check your calcs... it's a 1-20 distribution which means at $1.80 SP for ROL you're getting 9c per TRF share value...not sure where you're 11-14c per share comes from unless you're factoring in a SP for ROL of $2.20-2.80 which may well be possible but is not there atm.  Although if you say that ROL could be sitting on a LHG size deposit, then ROL could well end up in the vicinity of $7-10 depending on capital raisings etc!!!


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## condog (18 December 2009)

jonojpsg said:


> Hang on again Condog, you need to check your calcs... it's a 1-20 distribution which means at $1.80 SP for ROL you're getting 9c per TRF share value...not sure where you're 11-14c per share comes from unless you're factoring in a SP for ROL of $2.20-2.80 which may well be possible but is not there atm.  Although if you say that ROL could be sitting on a LHG size deposit, then ROL could well end up in the vicinity of $7-10 depending on capital raisings etc!!!




Trying to give an indicative range.....lets wait and see..... I still hold a good portion so have an each way bet....


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## McCoy Pauley (22 December 2009)

Share price has been hammered yesterday and today.  Peaked at $0.70/share yesterday morning and is now trading at $0.515/share.  Can't find any logical explanation for the sudden nosedive, except perhaps for traders taking profits pre-Christmas.  I've cashed in my holding but still watching this with interest.


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## Miner (22 December 2009)

McCoy Pauley said:


> Share price has been hammered yesterday and today.  Peaked at $0.70/share yesterday morning and is now trading at $0.515/share.  Can't find any logical explanation for the sudden nosedive, except perhaps for traders taking profits pre-Christmas.  I've cashed in my holding but still watching this with interest.




I am surprised too when I saw it emotionally.

But analysing the reports on which TRF rose I postulated there were three factors contributing the rise.


Assay analysis
Expanding the limpact of ittle bonus issue for ROL 1:10 basis.
Ramping up 
by David H in Eureka Report.

Yesterday and Today TRF therefore took the rational position and from peak rise it came down to a normalistic situation. Most of the mining shares with exception to some gold, market went north and TRF went south.

DYOR . I am a holder of TRF. Lost a lot on paper yesterday and today even after considering my average purchase price was 22 cents


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## Miner (22 December 2009)

At last TRF has released the record date information.

Looks like it is a half cook story - see attachment .

They made the announcement hurriedly having seen the price tanked in the last two days. But will it stop the decline - let us see tomorrow.

TRF has made the record date as 26 January - public holiday.
Last trading is on 27 January - again a non business day. 

So some one just did the sum to reach the market and rest assured tomorrow morning there will be a corrigendum in ASX. 

You wonder why hire such a bunch of incompetent people in TRF at the cost of share holders . Surely the news got leaked earlier explaining another factor of the share price slump. I was wrong in my last post to suggest specie will be 1 for 10. It is actually 1 for 20. 

One month the share transaction will be kept open is interesting proposition.

Any way at last the veiled secrecy is withdrawn at the penultimate of ASX office operating hours.

Enjoy the journey of TRF and David H.


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## McCoy Pauley (23 December 2009)

As I noted in the ROL thread, ROL has announced completion of a institutional and sophisticated investor placement of 6.325 million shares at $1.20/share (about a 21% discount on the closing price yesterday, by my rough and ready calcs).

ASX announcement released this morning - http://www.asx.com.au/asxpdf/20091223/pdf/31mx8cpbz3wbj6.pdf


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## Miner (23 December 2009)

Surprisingly or Rightfully the TRF price shot up. Some correction probably.
I noted an old report of Punter reported in TRF website regarding Punter's profit booking on TRF at 44 cents or so. See attached.

I calculated myself and thought Miner Don't be too greedy and make some profit after a perpetual losser.

I am relieved to have sold TRF and can have better Chrisy with some presents for my lovely Mrs and pay off my overseas flight . 

DYOR but the discounted selling of ROL to sophisticated people means TRF shareholders will be potentially a bit disadvantaged when comparing with those sophisticated. But over all gainer TRF holders if you hold until Australia Day . Enjoy your holding.


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## condog (30 December 2009)

Miner said:


> Surprisingly or Rightfully the TRF price shot up. Some correction probably.
> I noted an old report of Punter reported in TRF website regarding Punter's profit booking on TRF at 44 cents or so. See attached.
> 
> I calculated myself and thought Miner Don't be too greedy and make some profit after a perpetual losser.
> ...




Hey miner I stayed in TRF but was trading a parcel of ROL and stupidly left it on a sell from xmas eve and it went in early trade for 1.85 yesterday.....only to see ROL rocket to 2.39.....

Kicking myself for doing so, as you must be on this one. But the old saying goes. No one ever got poorer taking a profit.....Ill keep telling myself that till the money i missed out on yesterday starts to feel Ok again..... LOL

But I as you and and as indicated by the volatility in light trade, suggests the market has similar wonders about ROL and TRF current price.....

Lots of upside potential for both, but in the short term will we see a massive correction once the light xmas trade is finished , or will they rocket.... possibly time for an each way bet or to take some options and trade the volatility.


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## jonojpsg (30 December 2009)

condog said:


> Trying to give an indicative range.....lets wait and see..... I still hold a good portion so have an each way bet....




Apologies Condog!!  Looks like you made a pretty good call here - we may see the top of the range ($2.80) before the end of the year

Still, when you look at the grades they are getting (60m @ 6g/t) there's some serious gold in that caldera.  Once they get an initial JORC we'll be able to do some more informed guesstimating.


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## condog (30 December 2009)

jonojpsg said:


> Apologies Condog!!  Looks like you made a pretty good call here - we may see the top of the range ($2.80) before the end of the year
> 
> Still, when you look at the grades they are getting (60m @ 6g/t) there's some serious gold in that caldera.  Once they get an initial JORC we'll be able to do some more informed guesstimating.




Hey good on you for acknowledging that.... I was very confident I had my numbers within a reasonable range......but you cant go saying that too much in advance or you could be guilty of breaching ASIC regs etc....and its a bit risky...

Right now ive got a similar but larger position on VIL which I cant go making predictions but lets just say...theres some very interesting things happeing.

But while id love ROL to go much higher, preferably with a correction first I do believe it might be getting a bit too excited too soon if it goes much higher right now....With more exploration it has a lot of very very serious upside potential.....but right now its surely around full value until more news comes out... Id be expecting volatility until its next announcemnt....but thats only opinion....DYOR etc....you might also recall I said confidently Haselhurst got out way too early....but with the limitations of his capital in that portfolio, he has to move wherever he believes the biggest gain is immediately..

Happy investing and an even better new year to you all......


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## condog (4 January 2010)

Up 30%+ today on news of EFI which TRF holds 50% of + a 20% working interest in DSO ......report indicates quality ore with low cost start up....

I havent run the exact numbers yet, but seems very positive on face value.....
IFE shot up 46% on the news to closing sp of daily high at $1.16

Wilcher Hill near on the Eyre peninsula in SA seems to be a very high grade ore body and there seems very big expansion potential for IFE and TRF with Wilchery Hill and nearby Hercules......

IFE intends to ship 2M tonnes of high grade DSOre >60% by later in 2010 at 

estimated revenue 100M - 300M p.a....... not bad for a 50M market cap company .... estimated cost per tonne unknown at this stage, but say $35-$50 tonne... but looks very positive...

Any ore price $100+ will be a great resource for IFE / TRF 

Will be intersting to see ROl effect which didnt flow through today...??

TRF is turning into a very attracive proposition...very rapidly


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## condog (6 January 2010)

Tiny little but awesome TRF made national news headlines in 3 papers yesterday and had 2 positions on Google news for its exporation efforts and interests in IFE...

Not bad and certainly attnetion that all small cap miners love to have....it it puts it on the screens of a few brokers thats all great in the long run....


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## condog (7 January 2010)

More detailed 7 page report about Ironclad witchery processing plant proposal...

Looks good and cheap, little need for water or energy initially, using low cost mobile processing plant...to process 2M t p.a.

Two locomotive time slots
on the main rail line between Lincoln Gap and Port Adelaide provides
the most economic usage of rail time at a rate of approximately 2
million tonnes per annum which also equates to the annual capacity of
the proposed processing plant.

And then the power sentence:
"IronClad has determined that, in the first instance, an annual
production rate of 2 million tonnes of ore will be most appropriate." 

It certainly sounds like they are going to proceed to produsction which is a huge plus for TRF and IFE


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## condog (7 January 2010)

TRF corrected today to 90c - seems cheap again given ROL offer and recent positive news.....

I just grabbed a ton more on correction......now waiting for a possible rebound...


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## Harveyseries (7 January 2010)

Hi condog, I bought Trafford at .20c late Nov 09,very lucky.Sold off one third of my holding at $1.025 and now have the other two thirds running for nix.Looking forward to more good news in 2010. Also bought AUK at .12c,have since gone to .17c so having a great run at present.Also like Western Desert Resources but haven't taken the plunge yet,but am very interested.


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## McCoy Pauley (28 January 2010)

Share price has been driven down today.  Down as low as 74.5c/share but it's recovered somewhat to be trading at 78.5c/share.  A fair way off its highs.  Presumably a number of traders who jumped in to get at the in-specie distribution of ROL have jumped out now that they have their entitlements locked away (though I could be wrong).


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## condog (28 January 2010)

And given IFE Witchary Hill progression its an attractive buy.... just need to find some cash somewhere...


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## kenny (28 January 2010)

I'd say TRF almost certainly ran on the back of the ROL entitlement but I would expect them to come out with a few quick announcements to show how they have other irons in the fire.

regards,

Kenny


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## condog (4 February 2010)

Wow some TRF holders where leaping out the windows like the building was on fire..  big week, down to 50 odd cents and back u close to a $ where it should be...   Lots of positive news fro TRF, ROL, IFE lately so I m not jumping out the windows.....

I only wish id been cashed up this week to get some more TRF.....amongst others......


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## Nero64 (19 February 2010)

In a trading halt pending the announcment regarding placement of new shares.

Is this when they announce an offer of .60c per security and the sp falls rapidly or is it something else. 

Any ideas?


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## musicman74 (22 February 2010)

i do doubt that when a asian investor bought over 6 million shares the day b4 , i hope anyway lol holding shares myself, im suprised there hasnt been more talk about TFR having a trading halt


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## dadzi (22 February 2010)

Yeah, I'm wondering which way it's going to go aswell. If it's a share issue that all existing shareholders can participate in, that'd be good for me because I'd be keen to top up my current holdings at the cheaper issue price. Then again, if it's a share issue that is preferential to institutional investors, then, as you suggested Nero, the SP may drop rapidly, in which case I can once again top up my holdings for cheap. For investors with a long-term perspective it can only be a good thing really, as the company is generating a great return on its investments (namely, their awesome investment in ROL and soon to be awesome investement in IFE) and I feel as though any money I give them will be put to good use. I've felt for a while now that the TRF price is undervalued based on how the market has treated it after the ROL in-specie distribution, and this announcement could well be the catalyst that places TRF in the definate BUY section of my watchlist once again. I've been looking for another cheap way into the company after I missed that great buying opportunity that presented itself after the ROL distribution, as I was overseas on holidays and my partner prevented me from trading in order to fully enjoy the break - it was my mistake for listening to her haha.

These are only my opinions by the way, I invest on my own behalf and do so based upon my own research - you should do the same.


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## McCoy Pauley (22 February 2010)

As I understand the announcement, the trading halt will be in place until the earlier of the specific announcement being made or tomorrow so I imagine the questions/hypotheticals will be resolved shortly.


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## Nero64 (23 February 2010)

Just trying to make sense of the announcement. 

The offer is for institutional and sophisticated investors @71 cents.

I have been buying in and out of this share since Feb 2nd. Does that make me eligible. They don't mention any dates. 

I am just reading the pdf posted on the ASX site.


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## McCoy Pauley (23 February 2010)

Nero64 - if you have to ask the question, then my guess is that you're not a sophisticated investor as this term has a statutory meaning pursuant to the _Corporations Act 2001_.


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## dadzi (23 February 2010)

Lol, McCoy Pauley, sometimes it's more helpful to explain things to people as opposed to basically telling them that they're wrong without offering any clarification. In fact, in my opinion, clarifying stuff like this is the whole point of forums like ASF! 

Nero, it took me a while to figure out why I was not considered a "sophisticated investor" given that I've known all about particular companies before they've undergone capital raisings, and as you stated, I'd been trading these companies for several years and considered myself a sophisticated investor. As McCoy Pauley stated, the term "sophisticated Investor" has a statutory meaning pursuant to the Corporations Act 2001, specifically, Chapter 6D of the Act. The Act requires that when a company wishes to raise capital by offering securities in exchange for cash, the company needs to issue a prospectus disclosure to investors. However, companies are excluded from the requirement to issue a prospectus disclosure if they are offering securities to parties who fall under section 708 of the act. Subsections 708(8) to 708(20) of the Corporations Act define particular parties to whom a company may issue securities to without the need for a prospectus:

a 'sophisticated investor;' which is defined where: 
the minimum amount payable for securities is at least $500,000; or 
the collective amount invested in the same class of securities adds up to $500,000; or 
a qualified accountant certifies the net asset worth of $2.5 million or gross income for each of the last two financial years of at least $250,000 per annum. 

Now these are definitions I sourced from the internet so they may be outdated and I'm not stating them as absolute facts but I think the jist of this information is correct. Basically, it all boils down to how much cash you are investing, ie. according to the Corps act, cents buy sense. So if you are investing or have invested greater than $500,000 in TRF, you are likely to be considered a "sophisticated investor". If not, you’ll miss out in involvement in this capital raising. 

I hope that helps .


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## Miner (23 February 2010)

dadzi said:


> Lol, McCoy Pauley, sometimes it's more helpful to explain things to people as opposed to basically telling them that they're wrong without offering any clarification. In fact, in my opinion, clarifying stuff like this is the whole point of forums like ASF!
> 
> Nero, it took me a while to figure out why I was not considered a "sophisticated investor" given that I've known all about particular companies before they've undergone capital raisings, and as you stated, I'd been trading these companies for several years and considered myself a sophisticated investor. As McCoy Pauley stated, the term "sophisticated Investor" has a statutory meaning pursuant to the Corporations Act 2001, specifically, Chapter 6D of the Act. The Act requires that when a company wishes to raise capital by offering securities in exchange for cash, the company needs to issue a prospectus disclosure to investors. However, companies are excluded from the requirement to issue a prospectus disclosure if they are offering securities to parties who fall under section 708 of the act. Subsections 708(8) to 708(20) of the Corporations Act define particular parties to whom a company may issue securities to without the need for a prospectus:
> 
> ...





Dear Dadzi
Excellent explanation and thanks

If I may add that even if one qualifes to be a sophisticated investor does not get automatic entitlement to get an offer to subscribe under that category.
One has to get registered as a sophisticated investor with a particular broker like Paterson, MPS or any one you name it for future raising, seed money itself.

When time comes it will be the broker/ fund raiser who will approach the sophisticated investor for his or her money. There is a game and it is entirely discretionary  with your own broker whether he or she offers you to subscribe in a capital raising. 

If it explains further I  was registered with Bell Potter Securities ( I was not   a sophisticated investor). 

They used to give me tips ultimately the prices always fell. When real time comes they never advised me of their quota including their own shares. But I thanked them later when saw many of their floats went south including their own IPO.


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## Nero64 (23 February 2010)

Yeah thanks for clearing that up dadzi. 

TRF used to trade inline with IFE and ROL. I watch all 3 and feel TRF is at a discount to the others. 

Time will tell but it has its fingers nicely spread across a few high yielding assets and it only needs 1 or 2 to deliver for it to prosper.


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## kermit345 (3 March 2010)

Anyone have some insight into why TRF is trading at a price that seems to me like its extremely undervalued?

Just on some basic calculations below I think they are extremely far from their underlying value, basically trading at a 28% discount.

Traffords Major Investments:
Robust Resources (7,200,000 shares @ $1.88 = $13,536,000)
Ironclad Mining (22,000,000 shares @ $1.33 = $29,260,005)

Makes Total Investments of $42,796,005
In addition to this there is cash holdings, unfortunately the most recent figure I can find is $4,186,000

Totalling Value of $46,982,005

If this is divided amongst the shares on issue for TRF (latest I could find was 48,700,000)

This values the company at roughly 96 cents, currently they are trading at 69 cents.

Now I understand some of my figures may be out (and please update if you have more relevant figures as I think my cash and shares on issue figures are from July 09) but it does show that even on just its actual investments, it is trading considerably below its holdings value.

Just wondering on peoples thoughts?


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## prawn_86 (3 March 2010)

Most/a lot of LIC's trade at a discount to their intrinsic value. I guess it is just based on the fact that their share holdings are risky and/or volatile so the markets gives it a discount for if they fall.


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## kermit345 (3 March 2010)

given the outlook for robust and irconclad though, the discount seems a bit extreme to me. If robust/irconclad go up further TRF will be at more then a 30% discount.


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## dadzi (15 March 2010)

Yeah I agree Kermit, sure, Robust hasn't released any great updates recently and it's SP has been lagging over the last month or so, but IFE is heading towards production and its SP has almost doubled over the last few months. 

I feel that after TRF completed its In-Specie distribution of ROL, traders have forgotten that ROL was a secondary asset of TRF's compared to IFE, which will be the real money maker IMO. TRF is down another 6% today, and unless I'm missing something, I personally believe that it is undervalued and I'm stocking up my holdings at these prices.


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## kermit345 (15 March 2010)

Given my calcs above and the SP today at 63 cents, The stock is now trading at a 34% discount to what i've roughly calculated to be its per share value on holdings alone.

I mean even if LIC's usually trade at discounts, surely one of this magnitude is much too great of a discount considering the reasonably positive results its investment companies have posted recently.

If I had some spare coin I would be adding to my holding, unfortunately I don't at the moment. Hopefully the window of opportunity to buy at these levels stays for a little while so I can jump in the coming weeks.


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## jonojpsg (15 March 2010)

Yep kermit I'm with you on this one.  I have held IFE and TRF recently and have trimmed back to holding TRF as it does seem to be well under what IFE should value it at.  Given the great valuation that IFE will be at once it starts production (assuming all goes well) I can't see TRF being less than $1 by years end and more like $2 (based on my calcs of IFE hitting an MC of $250m or SP of $6ish).

Then looking further down the track, if ROL can prove up something that might even begin to approach LHG (say ROL valued at $1bn) then well blue sky is the limit


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## jonojpsg (16 March 2010)

jonojpsg said:


> Yep kermit I'm with you on this one.  I have held IFE and TRF recently and have trimmed back to holding TRF as it does seem to be well under what IFE should value it at.  Given the great valuation that IFE will be at once it starts production (assuming all goes well) I can't see TRF being less than $1 by years end and more like $2 (based on my calcs of IFE hitting an MC of $250m or SP of $6ish).
> 
> *Then looking further down the track, if ROL can prove up something that might even begin to approach LHG (say ROL valued at $1bn) then well blue sky is the limit*




Well, another BIG hit on Romang Island (82m @1.5g/t Au eq) although not particularly impressive grade  Still with widths like that, there's gotta be MAJOR tonnages in the offing when they get to their first JORC.  

Anyone familiar with LHG deposit who can provide comparison of widths/grade?

Again this demonstrates the undervalued nature of TRF with two *highly* prospective projects that they have a key holding in, apart from any other holdings they have.


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## kermit345 (16 March 2010)

I did some quick calcs today again Jono, focusing on their stock holdings only and ignoring cash (TRF).

At the time of doing the calcs these are the details I used:

ROL) 41.4mill shares on issue, $2.03 share price, so 84mill MCAP
IFE) 40.3mill shares on issues, $1.34 share price, so 54mill MCAP
TRF) 48.7mill shares on issue, $0.66 share price with 13.75% stake in ROL and 50.53% stake in IFE.

TRF's current value in ROL = $11.6mill
TRF's current value in IFE = $27.3mill
Total investment value = $38.9mill representing $0.799 per share
So currently trading at 17.40% discount, and if SP reached valuation would be a 21.06% return.

I also calculated that if TRF keep the same stakes in ROL and IFE, but their MCAP double, as well as TRF issuing 25% more shares, it looks like the following:

ROL MCAP = $168.1mill
IFE MCAP = $108.0mill
TRF Shares in issue = 60.9mill

TRF's value in ROL = $23.1mill
TRF's value in IFE = $54.6mill
Total investment value = $77.7mill representing $1.276 per share
So would be a 93.33% return on the current share price.

Obviously this is a very simplified method of estimating future value, but with the potential that ROL and IFE have it gives you some understanding of where TRF could be pointing towards. Not to mention i doubt they would increase shares on issue by 25% over the next 12-18 months (which is the kind of time-frame you'd hope ROL and IFE start producing major returns, IFE because of iron ore prices and ROL because of its increasing exploration success)


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## jonojpsg (16 March 2010)

No question kermit.  Note your calcs might even be under, as I'm pretty sure TRF hold 7.6m shares in ROL still after distribution which would give $16+m value rather than $11.6m

For mine, I'm banking on IFE being the star performer as if they can actually get 2Mtpa shipping out by the end of this year, they will be way over $100m 
MC, or should be given they will be making at least $50m a year net cash at $80/t IO price which looks in the bag.

Of course China or Europe or US could still go belly up and we'll all be stuffed so keep your nose to the ground and eyes peeled


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## jonojpsg (1 July 2010)

I have a question regarding the proposed extraction of gold from the deposit that IFE and TRF are going to mine at Weednanna.

How exactly will the gold be extracted from ore that is going to be sold as iron bearing ore?  That is, will it have to go through a processing plant, and if so, how does that affect the ore in terms of then selling it as iron ore? 

Or am I confusing the issue because the gold intercepts and the iron intercepts are actually separate and distinct, in which case it will simply be a matter of coordinating the mining process to deliver the different blocks of ore to the different end points?

Would appreciate any informed responses


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## condog (2 July 2010)

It appears to be the later, they will be targeting small high grade deposits of up to 9m with 24g/t. rather then processing all the ore for gold. Much more work to be done yet to determine exactly how they will tackle the issue and its viability imo. Certainly its a bonus as the DSO is fantastic in its own right, depending on the outcome of the insane and stupis RSPT from Ms Gillard PM.


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## ParleVouFrancois (23 October 2010)

Recently did a blog post about TRF and why I added it to my portfolio (see sig for URL). I was wondering if anyone had any opinions as to why TRF is so undervalued? Is it merely just the lack of shareholder communication as I think?


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## Trader Paul (15 January 2011)

Hi folks,

TRF ... has been in a long downtrend for the past year,
but we will be alert for a positive time cycle, early
this week ... 

TRF chart attached, below.

have a great week

paul



=====


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## Cloud9 (11 April 2011)

anyone picking this super undervalued one up at 40c?

here's my back of envelope numbers.


1. TRF has a current Market Capitalization of $34m @ 40c per share (microcap = tiny)

2. They have an investment in listed gold/copper stock ROL (Robust Resources) worth $16-17m (they own 9.28% of ROL/ $2.08) or approx 20c per TRF share, so this alone underpins half the current TRF stock price. 

3. They have a 43.6% investment in listed Iron Ore company IFE (IronClad) currently worth $20m, this adds another 23.5c per TRF share.   

4. They have a 20% free carry on IFEs Iron Ore project (IFE current market cap $47m/$.75c) so this is worth at least another $10m at face value, but if you consider the term "free carry" then its worth alot more in reality as they have NO ongoing costs in the startup of contruction or production....hence "free carry". This adds a basic 11.75 cps but this has the ability to climb significantly towards production/ end of 2011. 

5. They have already started an new drilling compaign on their own Lead/Zinc/Silver project at "Telephone Dam" SA. Upside here from drilling results.

6. At 1m tonnes of Iron ore delivered for 2012, TRF @ 20% would receive approx $AUD 11m NPBT (net profit before tax). This is projected to double in 2013 but we won't even go there until 2012 and avoid forward projections beyond a year which is risky.  

7. Cash - the dec 1/2 yearly put cash at around $7m, so I'll use $5m currently, or approx 6c per TRF share.

8. No Debt


TRF value summary

1.ROL = 20cps
2.IFE = 23.5cps
3.Cash = 6cps

so a base liquid asset value for TRF is 49.5cps

No value / or a negative value has been subscribed for

1. 20% Iron Ore project free carry at valuation (11.75cps)
2. Drilling upside at Telephone Dam (current) 
3. Future cashflow from Iron Ore (PER in 2012 could be a mere 5 on this project alone)
4. Upside to watching ROL (approaching maiden JORC) and IFE shareprices 
5. Possible Gold credits at Whicherry Hill 

TRF currently has a 20% discount to LIQUID ASSETS

Chart is in consolidation phase and 40c is starting to act as base (5 weeks) downtrend has slowed. 

I'm expecting a bounce soon.



any insights/corrections from others please.


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## skc (11 April 2011)

Cloud9 said:


> TRF value summary
> 
> 1.ROL = 20cps
> 2.IFE = 23.5cps
> ...




Your calculations are correct. But you are missing TRF's cash burn. If they burn say $1m p.a. then you need to capitalise that at say 8-10%, which is a negative asset of -$10m.

I've taken a position on TRF before on the same premise... see my post back in Nov last year. 

https://www.aussiestockforums.com/forums/showthread.php?t=21005&p=592633&viewfull=1#post592633. 

But I've exited the position at a loss here

https://www.aussiestockforums.com/forums/showthread.php?t=21005&p=598676&viewfull=1#post598676

Believe it or not there are so many stocks out there that are like TRF - go look up BEL, OEQ, HRS, MLM, MFC etc etc. In order to profit from such companies what you will need is some trigger event where the share price will be re-rated. A price breakout of the underlying assets will be one such event. 

You need to be aware that, there is no protection if the underlying assets keep falling in price, unless you can get some shorts for IFE / ROL to arbitrage the valuation gap. And even that, profit is not guaranteed as you need prices to converge - Is it possible that the price never closes? How long will you hold? Here's a good example.





BEL is a listed investment company and their main asset is units in a managed fund that invests in ASX200 companies. Buying in 2007 because it was 'undervalued' (which was true) would have you underwater 4 years later. However, buying in Mar 09 and you could have riden a nice trend up, as the underlying assets (essentially the ASX200) were rising.

So imho you should assess the prospects of IFE and ROL, and not just rely on TRF being 'undervalued'.


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## Cloud9 (11 April 2011)

thanks, good info.

and I agree, IFE and ROL are key and I like them both

holding co's always seem to trade at discounts to assets, and I'm aware of this and even if IFE turn around and ROL keeps going, TRF will probably still trade at a discount until cashflows come in.

so yes, a new uptrend in IFE and a continuation of ROL to maiden JORC with lift the TRF boat...but most probably still at a discount.


still think it will have a run soon.


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## skc (11 April 2011)

Cloud9 said:


> thanks, good info.
> 
> and I agree, IFE and ROL are key and I like them both
> 
> ...




Fair enough. Can I ask how do you determine your exit, either at profit or at a loss? Price based? Event based? Valuation based? What would u do if IFE falls significantly but TRF is still undervalued? These are the things I struggled with when i take similar positions and would like to hear your plan if you don't mind sharing.


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## springhill (7 August 2012)

*Trafford enter into Joint Venture with Kingsgate’s Dominion Gold Operations – South Australia*

· Purchase of a 51% share of Western Gawler Craton Joint Venture (JV) surrounding the established high grade Challenger Gold Mine (>1Moz).
· The JV agreement doubles Trafford’s Western Gawler Land Holding to > 5,600 Km².
· The JV landholding includes advanced exploration targets, brownfields exploration and abundant high quality greenfields prospects in the Gawler Craton.

Trafford activities stand to be further boosted by the recent announcement (May 2012) by the South Australian government to provide $2.0 million of funding to promote exploration on the Gawler Craton within the recently opened WPA. Southern Gold earned their 51% share in the Joint Venture by spending $2 million on the tenements surrounding Challenger. Trafford have purchased this for $500,000 cash and 3,000,000 Trafford shares. Upon Trafford entering into a feasibility study on a JORC resource of over 500,000oz gold, Trafford will issue a further $1 million worth of Trafford shares to Southern Gold.


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## System (25 May 2015)

On May 21st, 2015, Trafford Resources Limited (TRF) was removed from the ASX's official list following implementation of the scheme of arrangement by which IronClad Mining Limited (IFE) acquired all of the Company's issued capital.


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