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2.3¢ thunderbird resources limited

Ann: Corporate Update & Resignation of Joint Company Secretary, page-11

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Arthur A

2,586 Posts.

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05/01/18

10:39

Post #: 30062939
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Originally posted by ozbucheron ↑

Why should the share price respond to the copper price when there is no production and will be none for a long while? Hopefully the Scoping study will be a positive and solid document and give pause to reconsider the merits of the project.

Why are we creating a resource model of the high grade? Is there a smaller, higher grade scale of operation being considered?

Why the resource extension drilling program? Another 5000m to find what? I would suggest that the law of diminishing returns is coming in to play. All it does is delay real progress.

Tonnes and grade each increased by 15% as a result of the 2017 drilling. Another 10% added to the tonnes won't make any difference to the project scale or cost. As we get out towards the margins of the orebody we shouldn't expect to see increased grades.

I would prefer to see the money spent on metallurgy and a PFS. If the silver recovery can be improved I believe the project looks good without more resources. Get things moving and worry about resource extensions later.

Cheers

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Fair points and questions. Since the company has chosen to go for further exploration it would be good if they would lay out a realistic strategy to production and funding same.

VAL Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
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