new asx announcement

UPDATE ON TAKEOVER OFFER FROM CROSBY CAPITAL PARTNERS
Following the announcement from Crosby Capital Partners Inc ("Crosby") that it intends to make
(together with a consortium of investors) an unsolicited off-market offer for all of the ordinary
shares in Tethyan Copper Company Limited (ASX: TYC), Tethyan’s Board has met and has
instigated steps to counter the offer.
The Board unanimously considers the offer to be opportunistic and to substantially undervalue
the Company and its assets.
The Company has appointed a Takeover Response Team comprising members of its Board, and
is in the process of appointing corporate advisers to assist in its defence. The Board expects to
release a more detailed response within the next 5 business days.
In the meantime the Board has determined that the Company’s operations should continue as
normal at the Reko Diq Copper Project in Pakistan, without hindrance from events at the
corporate level. The Company is in the advanced stages of a Bankable Feasibility Study on the
H4 “Starter” Project, the proposed first development phase at Reko Diq, and is also carrying out
a major resource drilling programme on copper zones outside of the H4 Project. These activities,
which represent the fundamental value creation activities of the Company, will continue to be
vigorously pursued and closely managed.