Ann: Corporate Restructuring Update , page-5

Tony has now had time to closely scrutinise THX's previous exploration projects, and staff performance.

His decision to priortise three projects has merit.

The delay in moving the projects forward sooner has been very damaging to THX share price and previous excuses on weather, native title clearance etc has gone down like a lead balloon.

Take for example the Pyramid project, a quick run drill program resulting if some very encouraging intersections and then... back to the office to think about it. Some seven months later after a change of managment and exploration team it is now back on track.

I will stick my neck out and say that Pyramid will be the early result discovery that will propel THX back to their former glory.

I look at THX as a new IPO, start price 8 cents, with advanced projects that would take a new IPO some years to get to the same stage.

Standby, the fat lady has gone off in a huff and is on a diet.