(Please excuse if I sound like a broken record.)

Romarco Minerals, a gold exploration and development company in South Carolina, analogous in mamy ways to Tyhee, has 373.58 million outstanding shares. Tyhee's got 196.77 million, this according to Google Finance today.

Even so, Romarco and Tyhee actually have about the same number of measured and indicated gold ounces, although Tyhee's grades are higher.

I do not recall how many shares Romarco had when it delivered its robust economic study last February, but its share price nearly increased over 1,000% since then.

My point: Sure, we'll see more share dilution, perhaps even spectacular results from Clan, but the real pay dirt will come when Tyhee delivers an "impressive" Pre-Feasibility study. And, given how much mining costs have declined since Tyhee's Preliminary Assessment was delivered in 2007 with a not too shabby production cost of $385/oz., expecting an "impressive" Pre-Feas., may just turn out to be a gross underestimation.

Baires