Hi All,

It is nice to have the chance to indulge in a bit of speculation after a couple of years of being just too busy. So here is a little more speculation on my part:

Baires asked why the 6 million financing and why now, just before Dave's departure. Well, first of all I think the Tyhee bank account was getting a bit low and they needed some money, ideally enough to get them through to the financing of the mine development. It is also a chance for Interinvest to get hold of a bigger portion of the company for a low price.

My main thesis behind Dave's departure is the BOD feels that the company's share price performance under Dave as president was not up to standard. I tend to agree with Hansix that there were probably some performance targets that were not met and Christmas was the best time to make a difficult change. It seems that most on this forum have the highest regard for Dave and his abilities, but the market just does not seem to agree as reflected by the share price. Certainly fund managers and those in the industry such as Puplava, Doody, Morgan have been less than complimentary of Dave's leadership. But we need these sorts of guys to give favourable reviews of Tyhee and for the larger managed funds to buy into the company. I believe the BOD, influenced by Interinvest, S&B have decided that it is time for change. Dave was a symbol of the old Tyhee; the new Tyhee does not include Dave. Getting rid of Dave just before the financing signals to market participants that they will be buying into Tyhee V2.0 - a version that does not include Dave (for those who lost confidence in him), a new version focused on bringing the mine into production. Yes, Dave does have a wealth of exploration experience - nobody knows the geology better than him. But the company is moving into production now with feasibility study all but completed. They know where the gold is, now it is a matter of getting it out of the ground. And they know from the old Giant, Con and Discovery mines in the area that all you need to do is dig down and the gold keeps coming out. If I am not mistaken those old mines did not run out of gold, it was always other factors that shut them down. It does not surprise me that the new release said that Dave agreed with the decision - I believe that is just PR news release speak for if he didn't agree, he would be fired. I mean how many times do you see that in a news release when a CEO is being rolled - the text never directly says that they are letting the old guy go. They always say he agreed to resign, step down or pursue different opportunities. I think Dave will be OK financially with his shares and royalties, but unfortunately I don’t think we will see much more of him. Again it is common for the guy being rolled to remain on the BOD for a little while during the hand over period. As much as I hate to say it and hope it is not true, I think Dave has reached the status of "damaged goods". I don’t expect to see him in a significant role with Tyhee or Williams Creek. I think he might have to go it alone if he does anything else.

It's all speculation really and I don't expect everyone will agree with my predictions. I am just putting it out there. I guess time will tell us.

Regards,

Golden Kiwi