I spent a reasonable amount of time yesterday watching the...

I spent a reasonable amount of time yesterday watching the trades of THX. I don?t normally do this as I am a long term holder.

What was apparent in a weak market was that there was a consistent buyer at 65.5, but for me it was the fact that the sellers were not filling the buy order in. Steady steady buying.

THX are now at a very interesting stage. On the virtual eve of drilling one of their IP targets at Red Bore. These have been described as two discrete chargable anomalies considered to be prospective for copper gold suphide mineralisation. The companies consulting geophysicist recommended a short follow up IP program to enhance definition of the IP1 and IP2 targets so we must assume this has been completed and if the drilling is commenced all must be positive.

So what do we do as shareholders?

For the non believers, sell before the drill results and take advantage of the price rise these past two weeks. But you would be naive to not at least give some thought as to why the price rise happened. Hello! Did you not consider the rise was because of the fantastic drilling results for the Uranium copper report last week?

Blind Freddie as well as I would perhaps wonder why shareholders would not wait for a couple of weeks until the Red Bore IP target is drilled. The SP price over the past couple of months has not reflected the potential of Red Bore so why now would you be worried that a massive share price drop would eventuate if the hole turned up negative?

If you look at the previous information supplied by SFR and THX of this area, keeping in mind the principles used by SRF that found their magnificent deposits is also being used by THX why would not feel a little confidence that they may hit pay dirt.

For the punter who will wait until they hit massive sulphides I would like to say it is probably a great move, but be prepared to pay a premium. The premium will be a welcome addition to my super fund.

ON another note, THX chart has now broken the down ward trend line, it has maintained this upward trend today, so perhaps even the chartists will sit up and take notice.