CREDIBILITY of the P.A. and is it "ROBUST"?
posted on
Sep 14, 2008 10:00AM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
I just took the time to read all 90 pages of the P.A. There is a lot there and I am going to print it and go thru it with a fine tooth comb to really get my head around it.
I just have a couple of initial comments. This document would be difficult for most people to fully understand. It identifies risks and potentials and is pretty technical.
I am a Professional Engineer in the US. I have mostly worked in the areas of road and bridge design, construction and maintenance which includes geotechnical work and a lot of testing (concrete, soils, asphalt, structural members etc). I have been in this line of business 23 years so my background is pretty strong and yet fully understanding Tyhee's P.A. is going to take some time.
What I do have is an appreciation for is that a number of licensed professionals were involved in developing this document. They include Professional Engineers, Certified Professional Geologists, etc. The years of experience of these people is extensive as outlined in the P.A. The P.A. is NI 43-101 compliant also.
The summary of the P.A. is positive and points out that the YGP project has the potential to be technically feasible and although economic, it could be more robust with detailed work in a latter stage of planning. They recommend the project be considered for additional studies and pre-feasibility work and which areas should be focused on.
My point is that we are investors in Tyhee and clearly can be and are biased. They are 3rd party independent professionals who's livelihood and integrity is dependent on their objectivity in engineering, geological and economic work.
I am going to take the time over the next few weeks to really dig further into the P.A. There are no assurances in any investment that any of us ever makes but we do have access to quite a bit of information to help us assess risk/reward.
Many here have posted many times some of the bigger players who have invested in Tyhee and that does weigh into the risk/reward assessment. When others that have invested hundreds of thousands and millions into a project that have been in the industry many years, it does increase the comfort level some and certainly helps the financial picture for the company too.
I am ultimately trying to figure out whether to sit tight or increase my position since the share price is so low now. If gold ends up north of $1,500 over the next few years, many projects that are marginal will be highly profitable also, even if oil is over $200 a barrel. I am trying to factor this in too.
My final thoughts are that you should really only be investing money in these juniors that you simply do not need. Playing these for a quick profit has been once again shown to be dangerous. Thats probably why I have been calm thru this whole sell-off. I just buy and hold. My hope to be able to start selling for large profits in roughly 4 to 8 years, but even this I will have to play by ear depending on the market and the company's rate of progress.
SM