Tyhee's Undervaluation:

Another Explanation as to Why Tyhee seems to be chronically valued at the bottom of a list of its (Canaccord) peers.

Firstly: Take Note:

Although it may not seem so, Tyhee, over the last five years has NOT ALWAYS been undervalued relative to its peers. In pre-crash 2008 it was trading over 80 cents a share with far fewer outstanding shares issued. At that time, Tyhee was valued above the average valuation of its peers. But that was then. (Note: The HUI has, for the first time since that '08 crash, has poked through it all time high...which I think bodes well for the Juniors.)

My theory:

How many other explorers can you name that have had a CEO who perpetually, repeatedly, declared that he wants to take his company into production on its own. That is, he'd rather NOT get acquired, nor do a JV or Merger.

A key question. One that underlies my Theory:

Are we in a market that values those explorers more highly who are less vocal, less clear about their mining plans than is Tyhee? I think we are, although I haven't done the research to prove it, yet.

Are investors less likely to buy shares in a company [Tyhee] that has more risk than one that is more ready and willing to be sold to the highest bidder now or soon?

It's my opinion that this different profile is one important one that makes, for example, a Junior like Kimber Resources, more highly valued than Tyhee on a per ounce basis. Kimber, to the best of my knowledge, has a "For Sale" sign on its front lawn (in San Diego?).

Let's face it, there's more risk, and perhaps a longer wait for payback, for a junior attempting to go into production, than for one whose primary endgame is to be acquired.

And, in this market, risky business seems a less appealing play than those with a quicker turnaround.

But alas, Tyhee's investment risk may soon be vastly diminished, as (fingers crossed) its PP closes, drills start to spin, the Feasibility Study is initiated, and the DAR is submitted sometime around January 22nd next year.

Then we may enjoy sitting back, strapped in as goldd rises, adding even more value to what we hope to find in those eight newly discovered gold zones surrounding Clan Lakes' Main Zone. Remember, 'twas the Main Zone that the 'ol timers logged in those 600,000 gold ounces, with a 400 tonne bulk sample that extracted average grades of 14 grams per tonne AT SURFACE!

Cheers.

Baires