Changes at Tyhee board, what's going on? Is this good news?
in response to
by
posted on
May 31, 2010 10:07AM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
Nice to see follow-on drilling at Clan lake. I suppose it's on the order of anohter 12 holes, plus the six yet to report. That is good news, a modest contiuation drilling program when money is getting tight again in the Juniors.
Change in the Board, with loss of one of the founders. That's HUGE news. Given that Roger had 45 years experience vice DW's 30, and from what I recall of meeting him, he must be approaching 70 years old now, so he was an old fellow. It could just be retirement or that the stresses of this weak Juniors market has done him in. His academic background from BCIT in business admin did not put him at the top of the corporate talent charts, however. I think that it is best for shareholders. Whether the change was motivated by a big new investor wanting a new person in place, or other reason, time will tell. WOnder who will be his replacement and I hope it's someone with solid credentials in mine building, finance or corporate management. Certainly Roger's replacement will be big news to shareholders.
It would be instructive to compare his holdings in Tyhee with DW. I don't see Roger as having participated much in recent private placements, so I think this was coming for a while. Good luck in your retirement or next endeavour, Roger, and thinks for your having co-created Tyhee. I'm sure you'll be there on the sidelines, supporting and participating in Tyhee's success!
And the announcement that DAR will be in the fourth quarter due to "change in primary consultants" is HUGE news as well. Why did Tyhee change primary consultants? I want to know who the new primary consultants now are. Are they a bigger name, due to the scale and complexity of the DAR task? Or are they a smaller firm, due to financial constraints. The answer to this question will reveal a lot about how well Tyhee is doing.
And by fourth quarter, I take it this means DAR by the end of December, 2010 The company has a financial year end of November, but I think by fourth quarter they meant calendar quarter. In any case, as long as the DAR sumbission is thorough and satisfies all or most of GNWT /MVLWEIRB requirements and moves the ball forward 50 yards, I'm happy. This is a cornerstone document for the future of Tyhee as a gold producer in the near future.
In any case, it seems that the market likes this news! As for me, it makes me sit up and take notice, and want to know more about these questions. Something is definately going on. If a subsequent news release explains it all in a few months, after the Pre Feas is out, I'll understand completely why today's news release had to be first.
Suspect it's all VERY GOOD.
SKELEG