why sell now!, page-21

re: announcement -was lousy -you were right
Are you guys nuts? This co. is such a dog that even the fleas won't touch it !

90% of it's assets ($10 Million are 30Nov) are an intangible "Deferred exploration costs", which the auditor pointed out on Jun 30 should not be considered an asset.

The company was shutdown on the 15th of December by Rothchilds who demanded their money. The only reason they were reinstated was they promised a rights issue, and that was the only way Rothchilds could get all their money out. As soon as they receive the rights cash, they have to repay Rothchild plus $100,000 fee Rothchild added.

The result of all the shares being halved in value will only be an additional $2.2 Million in working capital.

I would suggest getting out, and doing it soon. I can quote many cases of share prices falling to their rights issue price on ex date (14th Jan).

If the share price is below 3c on the 7th of Feb., this baby's going into liquidation (refer to prospectus).

Cheers

I do not own TIR