Apollo Gold, over the last year or so, had a descending share price and market cap as investors felt its mine potential was limited for lack of exploration potential and avaiable resources.

Add to that, perhaps another less clear example of what could or could not happen if Tyhee didn't now expand its exploration potential:

Bakerville Gold Mine.

Located in Canada, it has about the same market cap as Tyhee. Why? My guess is that it's because its total resources are less than a third of Tyhee's. And, it's projected to produce only 50,000 gold ounces the first year (starting momentarily) and only after three years, a 100,000 ounces of gold. Nonetheless, they have an ongoing budgeted exploration program, but a long way to go the catch up to where Tyhee is now.

So, if Tyhee has to dilute its shares to raise another five million dollars in order to locate a million plus ounces of gold out of Clan Lake (or Goodwin), assuming it'll cost about $20-$25 or less per ounce to achieve those mostly indicated ounces, then I say please dilute our shares and drill baby drill to get the damn resource up well over three million ounces so that the Feasibility Study can convert many of added resources into more valuable RESERVES for the mill at Ormsby.

Add to that, what this would mean for other options Tyhee may have following an increase in its exploration and discovery. Agnico-Eagle acquired Tyhee's neighbor to the north, Cumberland Resources, for about $160/ounce, ONLY after it had a total resource of over 3 million ounces and a competed Feasibility Study.

So here's, besides going it alone, or with a JV, is another possible endgame for the company that might match that of Cumberland Resources: A BUYOUT at a very nice premium. If that could happen, I think, it would be worth the money spent and the dilution needed to achieve it!

Clan Lake , Goodwin too, are just sitting out there, waiting to have the heck drilled out of it. I say spend the money and drill baby drill more to prove up those reserves now, and give Tyhee and its shareholders more opportunities for the not to distant future!

Go Tyhee!

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