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Message: Tyhee Announces Private Placement to Finance Preliminary Feasibility Study

Re: Tyhee Announces Private Placement to Finance Preliminary Feasibility Study

posted on Apr 20, 2009 07:08PM

I like the current approach, methodical and step by step. DW knows what the company potentially has at Ormsby and Nick Lake - accessible resources that extend deep (like the Con and Giant and Discovery mines), and it makes sense that these would be the first to be mined because there is less risk and good economics, with years and years of production in the ground. The preparation for this is a good first use of the $8 million private placement. Let's not forget there is still nearly $2 million in the kitty before the placement. Big Sky did not show much when it was drilled last year, even if it has potential it is risky and therefore expensive to drill. But Clan Lake may be spectacular, especially these 100+ g/t grab samples capture the imagination, DW thinks there is a subsurface pattern to these deposits and this needs exploring, I think he is on to something big. DW is now cleaning up all the loose ends at Clan Lake, assaying the drill cores from previous work, to put together a work plan to begin identifying how big a resource this zone really has.

Best to all, Isaiah

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