An Important Question for the Forum: How Fast Should Tyhee Progess?
posted on
Aug 01, 2010 09:04AM
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Hi!
I just thought that this problem was important enough to get your opinion on.
You may recall a magazine article last year in which Dave Webb was quoted as lamenting over the fact that Tyhee had taken a much too conservative approach in its drill program during the time when the general markets tanked. In fact, Tyhee stopped drilling altogether for almost a year to conserve cash. Nevertheless, even with no drills turning, they were able to add resource ounces by re-sampling old, historic cores from Clan Lake. (And, it was also during this slow-motion, conservative/spend-thrift year that engineering work was underway that eventually contributed to last months Pre-Feasibility Study.) Tyhee progress, but not as fast as it could have.
Looking back, Webb wished he had done things differently, that is, Drilled A LOT MORE!!!
So, as we face another possible downturn in the general markets, I'm guessing Webb may not want to repeat what he's considered to be a big tactical mistake he made 2008.
So, here's my question to you, (since I do not think, for many reasons, Webb will answer it now).
"Should Tyhee maintain its slow burn rate two drills at Clan, or even if it mean more ugly dilution, Tyhee should drill the hell out of Clan and the Goodwin's Vad Zone in the midst of this upcoming economic downturn?
Please Vote Here to recommend this post if you support a more aggressive, more espensive drill program.
Or, if not, and you'd prefer Tyhee to be more fiscally conservative even though it may result in a much more limited drill program in the next year, vote to recommend the next post.
Thanks,
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