Ann: Red Bore Pre-emptive Right Exercised, page-48

I have had a few phone calls today, and most agree that Bill has to have a backer. A couple had the view it was TLM, but owing to no ASX announcement to that effect, this probably needs to be discounted.

If he is getting help from a public listed company a notice would have to be made in the very near future announcing this fact. If it's a private individual it's a different matter and we may never know at this stage.

Most agreed that Bill has never given the impression he is good for a 18 month 3 million dollar outlay. Surprised the lot of us.

To exercise his rights on the deal it would have to be done in his own name. If he has done a deal with another company all should be revealed shortly once the pr-empt is acknowledged, ie today by THX, so if there is another party involved you would think they would need to protect their interest by registering with the Mines Department. Until they find 30,000 tonnes the claim will remain in the same names ie, THX 90% Richmond 10%.

Anyway they are going to have to get busy in the next 18 months.

The question is if they get the 30,000 tonnes of copper, which by the way would be worth about 50million dollars worth in ground value to THX, how are they going to process it, build another plant?

Cant wait for the next episode.