westaussieRichards 40% is also free carried, isn't it?If he had...

westaussie
Richards 40% is also free carried, isn't it?
If he had to put up financing for the drilling by that amount, that would make a huge saving for THX.

That would make a good reason to accept an offer by another company to take up his 40%, if the acquirer had to put up the 40% future cash, to gain their 40%.

From what I understand, we're looking at deep diamond holes to find what the company thinks is there.
Depending on the number of holes you have to drill to find the stuff, the dollars could soon add up.
I understand the cost of these deep holes is around a $100k?? each.
This could very quickly consume THX's available cash....and still have the undesired result at the end of it.

I remember the CEO of SFR saying in the big presentation he did, I think in Sept 2010?? that you only need to be a metre away from the copper and not even know you were near it.
I suppose DH survey would certainly give of some info.
I think THX still have the belief in the tenement.....but they need to think very wisely how to get the best value in what they do...which prospects are likely to give the needed results to give the S/P the major uplift we all desire.
Once they can get that, I would imagine a CR at a good price, as we don't want to see too many new shares coming on the registry.

They still have a number of good prospects, so lets hope they can get the funding to carry out future exploration in a decent way....not with a couple million dollars a year.

Regards
Dabru