next week, page-8

Will be very interesting to see how this plays out.

Top 20 holders control ~21M shares and the majority of these are under the control of the Directors. Top 20 holders would also be less inclined to trade in and out of stocks like TRH with extremely low numbers of shares on issue.

This leaves only a further 25M of "free float" shares available for trade.

I think that leaves TRH open to stronger moves in either direction as the $$$'s enter or leave the stock.

I can't see TRH being anything but strong over the next 3 months - once the approval is ratified over the Federal land and we announce drilling it will be game on. Management have stated that they intend drilling pretty much straight away.

The area has been drilled in the past.

At the risk of being proven wrong, I think we could easily be pushing towards the $2 range pre drill (ie. in the next 4 - 6 weeks).

That would leave TRH's EV at circa $80M after accounting for current cash and our RAD holding. All this for a prospective 2.3 billion tonne potash resource in the USA.

If the big money takes over the $2 target I mentioned above could get blown out of the water!

Exciting times.