Comparing Romarco with Tyhee: Some Similarities and Differences
posted on
Dec 21, 2011 08:33AM
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In late 2008 Romarco looked a lot more like Tyhee than it does now. Then, with a high share float, its share price was, like Tyhee, was in the single digits even though it was soon approaching a Feasibility Study (FS) in February 2009. Also, around that time, its drill results were very good.
These are some similarities that might, or might not be helpful in seeing what COULD happen to Tyhee going forward.
Also back then, Romarco was touted by popular fund manager Frank Holmes of US Global Investors and Romarco's attractive CEO, Dr. Diane Garrett. Garrett had worked for Holmes. Compare that to Dr. Black, Interinvest and Webb/Briggs.
Following Romarco's very robust 2009 FS (e.g., about 1M oz in reserves with very low production costs), there was a dramatic increase in its share price and successful financing that enabled it to greatly hike its rig count to where today they have about 11 rigs. Compare that to Tyhee's one or two rigs, or in one year, no rigs at all.
Today, Romarco has more than a half billion shares outstanding. And, although Tyhee's grades are higher, Romarco now has more than double the resources and reserves of Tyhee, a market cap that, in the last couple of years, has been greater than 20 times that of Tyhee.
Hopefully, Tyhee will not be hindered by a delay in permitting that Romarco now faces with the EPA. A delay that has contributed to a decline in Romarco's share price by more than 50% in the last year.