TYHEE GOLD CORP
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Message: Tyhee As Seen By Dave Morgan in This Month's Silver Investor.
Tyhee As Seen By Dave Morgan in This Month's Silver Investor.
(Morgan also predicted $18 silver by April '07 and gave Tyhee a strong Buy Recommendation on July '06).
Cheers, Baires
Tyhee Development
(TSX-V: TDC; OTCBB: TYHJF)
Web:
Shares Outstanding/FD: 169m/173m
$3m Cash
Burn Rate: $100-150,000/mo.
Recent Price: $0.12
2008 Performance: (-81%)
In 2008, Tyhee Development completed a Preliminary
Assessment (scoping study) demonstrating positive project economics, including a discounted NPV of $145 million and production at 163,500 ounces of gold on average each year for 7 years, open for expansion. A preliminary feasibility study has been recommended. Tyhee increased its Measured and Indicated gold resource by 25% to 1.6 million ounces of gold plus 200,000 ounces of inferred gold, completed a 33,000 metre drill program and made discoveries at BigSky and Goodwin Lake properties.
Goodwin Lake appears to host an economically significant gold mineralization zone, only 13 km from the company’s developing Yellowknife Gold project at Clan Lake, where a previously known showing has returned very positive results. Resource estimates are pending for Clan and Goodwin. Advance permits are being filed for initial public hearings. The Terms of Reference for the final Developers Report is pending.
For 2009, Tyhee will minimize expenses, while continuing permitting and engineering work. When market conditions improve, planned exploration will be initiated. The company has budgeted for 18 to 24 months of cash (>$3 million).
Comment: Featured the company and recommend purchase based upon our discussions with one of the geologists we truly know and trust. As we watched the company from our initial write-up we have been less impressed and hold a few shares but are not nearly as excited as we were such a long time ago. Basically, we put this in the back of our portfolio and seldom think about it, we are not inclined to buy more or suggest anyone does at this point. We have been invited for a property visit and it was cancelled, but once we ourselves inspect the property our opinion may change. For now we think there are better risk to reward companies available.
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Jan 06, 2009 12:46PM
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Jan 06, 2009 02:33PM
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