Re: Help for new investor
in response to
by
posted on
Aug 13, 2010 09:15AM
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Dear Sir,
I am quite new to the industry to be honest. Also, I have no investment experience; which is why I originially asked because you all seem to know more about investing than I.
From what I have seen and read in tyhee, and their pre-fes study is that everything looks great. I know that Barrick really only does projects with alot of oz, ie TR has roughly 5~ MM oz of reserves. Tyhee says that they only have 2.3 million or so in the ground.
However, having said that, since they have had such good results drilling, I am sure they are on a pocket and most likely going to find more. From what I remember they said they were getting around 97% recovery rate, which is unheard of. The best of the mines that I have been to here in Nevada get around 85% on the high end. For Tyhee to only have around 520 dollar an oz cost says that it is a very feasable project to me. However, there location would make getting supplies tricky during the harsh winter months, which would most likely indicate high capital to stock things.
I beleive Tyhee has about 5 million cash on hand. If they wish to make their mine a start up up 3000 ton/day; they will need much more finance in order to get the equiptment. My mine does about 9-1200 tons/day and we probably have 25 million, at least, in equiptment.
Final thoughts, I never saw anywhere that Tyhee plans to rework the old tailings. This area is a historic mining district so I am sure there are lots of oz still in the old "wastes". That would be a very easy way to add oz to their proven reserves.