I was under the impression that THX had not yet informed the market that its JV partner SMY is preparing a "Notice of intent to mine" with regard to opening Copernicus as a mine.
So I sent THX this email today:
________
Dear Sirs,
I refer to the ASX announcement from your JV partner, SMY, titled Exploration Update and dated 5th September 2006.
In this message SMY states that they are currently preparing a “notice of intent to mine” for Copernicus.
THX has yet to announce this fact to the market. In an earlier ASX announcement THX wrote that the market will be informed when a decision to mine has been made.
As SMY has publicly stated they are now preparing a “notice of intent to mine” can we assume that the decision to mine has now been taken?
If this is the case when will THX be informing the market that the decision to mine has been taken.
Best Regards
________
This evening I reveived the following reply from Jaxon Crabb of THX
________
Dear M*****
Please find attached the ASX Announcement Thundelarra made on the 3 August 2006. On the 2nd page in the paragraph directly below the table you'll see we state - "In addition to the resource drilling the managers of the joint venture are preparing a Notice of Intent for the mining and processing of the Copernicus open pit resource."
Thank you for your keen interest in our company. It appears you like us are desperately excited about the possibility of production next year for Thundelarra.
Kind Regards,
Jaxon Crabb
Thundelarra Exploration Ltd
Phone: 08 9321 9680
_________
If I missed it then I wonder how many others missed it.
SMY has set aside AU$2mn for the pre-pit development, which is in addition to the ongoing drilling programme.
So - there you have it straight from THX - the decision to open a mine at Copernicus has been taken. It is due to open and start producing revenue during the second quarter of 2007.
Just to be on the safe side he has to use the word "possibility" but you should realise that SMY will spend AU$4.5mn on Copernicus this year on drilling and pre-pit development. Now they are the sort of possibilities that I like.......
Now tell me...... can you see the dollars????
EB
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