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Agree guys - IMO this is messy.

THR could have done this with the last CR, but have performed 2 CR parcels.

If we try and think this through - IMO THR Management would not have wanted to do it this way (why would they ? they could've raised the cash a few weeks ago at 2c+ !!), so clearly something forced their hand.

It could be a couple of things:

1) The DFS might have been delayed - in this, I mean that THR Management were expecting early June but for some reason it is now coming end of June. As a result, more cash was needed. NOTE: Im still saying June here since the company hasnt corrected market opinion; OR

2) THR interests outside of the DFS are heating up, and they cannot wait for cash via DFS and partners/investors - in particular Im thinking of Spring Hill here !

Obviously (2) would be the ideal scenario. BUT - IMO - surely this would warrant a Spring Hill update soon re: progress ??

There is an unthinkable option (3) that the DFS will be delayed again - which is why THR Management are getting cash now before they ANN it - which if true Ill join the long list of people that are annoyed.

Sit tight people - im expecting a rocky road today :(