THB 11.1% 1.6¢ thunderbird resources limited

Ann: Retraction of Production Targets & Forecast Financials, page-5

  1. 1,672 Posts.
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    "The Company and its consultants considered that the Scoping Study had been  prepared in accordance with the JORC Code 2012 and that the financial analysis  and material assumptions underpinning the production forecast, including capital  expenditure  requirements  to  bring  the  project  to  full  production,  had  been  appropriately applied and were reasonable"
    This is the company's view of its scoping study results

    But it looks like they got reigned in by the regulators as communicating to positively, and thus have to make points clear that investors would understand implicitly in any exploration play, but the regulators are sticklers. Hence, it follows:

    " However, at this time, it is unclear whether  sufficient  funding  will  be  available  as  and  when  required  by  the  Project's  development timetable. " I mean, hello..., seriously, captain obvious regulators -  this is true for all explorers at this stage of the project. Obviously there are no guarantees of funding in the future yet.

    So.....
    "For this reason, the Company has been advised that it may not have reasonable  grounds  to  the  standard  required  by  the  Corporations  Act  2001  (Cth)  (“Corporations Act”) "
    That is the issue the regulators have and the reason they are making them release this announcement.
    And then makes them state the bleeding obvious: "The Company warns investors against using the forward looking statements"

    But the company's true view is: The Company is pleased with the results of the Berenguela Scoping Study and maintains the view that the Berenguela Project presents an attractive investment  proposition within the copper and silver markets.  The Company believes the  Scoping  Study  provides  a  strong  justification  for  the  Company’s  planned  investment and work program in the coming months"

    And here is the real issue. They feel the regulators have held them back from communicating what they wanted (perhaps fairly, perhaps a bit pedantically)
    "The Company continues to  work with its consultants and advisors to establish the grounds by which it may be  able to communicate forward looking statements. "

    Nothing has changed with respect to current or future projects. That's the bottom line.
 
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