good medium term investment, page-45

Mitis - 12 months ago, pre-drill, you could have argued times were good enough for a market cap of $80M-100M.

People are more defensive/cautious so leading into drilling I personally think TRH is a fair buy around $50M. In recent weeks I've averaged up significantly, but still well buffered from any adverse result. 42c weighted average.

Post a POSITIVE drill result... I think the market would be foolish to not value TRH at $100M leading into its maiden JORC.

Maiden JORC is still a few months away, and first drill result is likely 4-6 weeks. Might range trade 80c-110c until we are shown the Potash. Then on-wards march to $100M.

If the first drill is a miss... Ouch! Will collapse. But that doesn't mean all is lost. TRH have a huge area to chew up.

Patty-radamas has spoken LoL!