THE TYHEE DILEMMA/ Correction on My Recollections:

"As I recall, Apollo Gold went into production last year and was a small Canadian producer with not much of a promising future with its apparent limited resources yet proven. It's market cap didn't go much above $50 million and its share price, as I recalled, didn't exceed 45 cents. But as many would applaud, compared to Tyhee, it had a much lower share count, something like around 100 million, AND had achieved production too!"

I reviewed some the Apollo Gold literature today,and saw that they actually had a share count of 334 million (not 100 million as I had recalled), with a market cap of about $100 million (not the $50 million that I remembered ). That's when, last year, their share price was about 30 cents. Also, at Apollo's flagship Black Fox Mine property, they had proven reserves of about 2.3 million ounces of gold, but Black Fox's initial gold grades being brought to its mill were only about 2.7 gpt, while the mine was projected to produce from 100,000 to 180,000 ounces per year over a life of about 8 years. Their initial cash costs per ounce of gold produced was over $630! The analysts I had spoken with at the New York Hard Asset Conference this May said that the market was not impressed with the exploration potential at Black Fox, and that was reflected in Apollo's low market cap and share price.

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