Hammer: It's the value of the ounces in the ground not the cost of mining them. An ounce of Tyhee's reserves is worth $40 while the average is over $500, meaning Tyhee is way, way undervalued for the identified ounces of gold on site compared to other projects.

It means there is lots of potential for share value to go up as the value of Tyhee's ounces revert to the average, which would be an increase of at least 12x its current value.

And so much of the discussion here has speculated on why the value is so low, what the prospects are of it going up, and how that might be done. Personally I think it depends on the market's assessment of the chances of a mine happening. Seabridge, for example, has a relatively low value per ounce of gold, and some have speculated it is because its management has no intention of developing a mine at all, they are just firming up ounces to sell their deposits at a profit. With no clear timeframe and plan for a mine, and with no clear intention to sell because of the low valuation, investors have low interest and so the drilling goes on but the share price languishes. In Tyhee's case, whenever it becomes clear that a mine is going to happen and when, the share price will no doubt go up towards the average. Anyway, hope this helps. Ike