Skin Enough in the Game? Webb Would Love To Sell Tyhee.
in response to
by
posted on
Dec 12, 2010 06:05AM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
Tyhee's management and employees own 12% of the company. We don't know how much higher this percentage goes when you add in what family members have. Webb says he holds more than 1.5 million TDC shares. His wife and family also own TDC. Also, let’s not forget those early years when Dave drew next to no salary from Tyhee. Although it's currently at about $150K, what he makes at Tyhee is well below what other similarly seasoned geologists earn at a more "comfortable", less stressful position in a larger safer gold sector company. But, Webb isn't that sort of geologist. He's an individual with a dream, not unlike Mark Bailey, CEO of Minefinders, who developed, from day one, his Mexican "moose pasture" into a gold (and silver) mine after many years of hard struggling work. Keith Barron and Puplava talk about the significance of "skin in the game" in terms of shares. But how about the skin given up by Webb for having devoted most of his life to working his butt off to fulfill his dream of developing a mine out of the Yellowknife Gold Project and increasing shareholder value? Is that not "skin" enough? Tyhee is Webb's life. Unlike Barron or Puplava, Dave does not see what he's doing as a "game". He's dead serious on bringing the project into production as the years of the skin he's given have proved that. For a junior to be successful, according to Puplava and Barron, it must be acquired by a large cash rich producer. Webb's not against that. No, he has consistently said he'd sell Tyhee. Even in the face of JP’s ill-conceived pressure, Webb’s not (JP take a hike!) going to sell the company and its shareholders short. He knows there's more money to be made for its shareholders as Tyhee progresses toward its first pour. We all know how undervalued Tyhee is now.For Webb to have succumbed to Puplava pressure and sold Tyhee before the DAR is submitted, before Clan resources are expanded, and the Feasibility and permitting are advanced, in my estimation, would have been a big mistake, even though Puplava might have profited in the short term. Dave may well sell Tyhee, but for a price that will be commensurate with its potentially enormous value once its milestones have been reached. And we anticipate that they will be reached in the not too distant future. Hang in, stay tuned. The best is yet to come. Cheers, Baires