The company has decided to focus its attention on the gold and copper prospects, with uranium interests being maintained in preparation for an expected sector recovery. The company has announced that its focus for 2013 will be on the Curara Well and Allamber Projects.

Search for strategic partner continues. The company is now entering into negotiations regarding the investment to assist with the funding and development of the companies phosphate assets in Angola and the Democratic Republic of Congo (DRC).

The company has developed a multi-commodity portfolio, which includes interests in base and precious metals and uranium. Our valuation of THX ranges from $0.076 to $0.155 per share. We view the new strategy of the company to focus on a select few projects and rationalisation of the portfolio as a positive step for the company.

Wiluna Uranium Project Approval Delay: After receiving the long awaited environmental approval from the WA government at the Wiluna Uranium Project, the company has experienced a setback with the Federal Government delaying its final decision on the approval of the Project to 31 March 2013.

On 11 January 2013, the company announced the completion of the Scoping Study that confirms the technical and financial viability of the Dandaragan Trough Project. The study recommends a feed rate of 2.4Mtpa which relates to a mine life of 25 years. The company is now progressing towards a Definitive Feasibility Study (DFS).