I am surprised that there are people who thinks it's Dave's job to know who is buying or selling Tyhee shares in the open market. Dave's job is to keep their operation funded and moving forward. Not worrying about what manipulations are taking place on the venture exchange that are out of his control.
He has been watching the trading activity and came to the same conclusions I did from my own experience in the last 10 minutes of the day.
If you have ever participated in a private placement (PP), you know that whatever price it is you are getting the shares for, the share price in the open market will drop below that. I don't know why this is but this is just a fact of life. Go look at the private placements that Kimber Resources have done and look at their stock price during that time.
Tyhee's share price naturally headed to 10 cents which is what investors always do- drive the price to whatever the PP is, and then they overdo it and push it below that temporarily. In this case, someone made sure it was pushed an extra 30% lower in the last 10 minutes of trading. Then that 7 cents gets frozen for the evening to cause this sort of panic.
Sure, there are some things I think Dave could have done better. Why didn't we raise the money when the share price was 20 cents recently? But at that time people would be bitching "why dont we wait until the stock gets to 40 cents to raise the money!?".
Worst case scenario, there's $567MM of potential profit here (811MM ounces x $700/ounce profit). Realistically its more like $1B of profit considering the price of gold is going only higher.
Would you risk $27 to make $1000?
If you think 2.2MM ounces for $27M with a PFS in hand is too expensive then name me one other company that has the same valuation. If you think this is cheap, then start thinking like the evil bankers and go buy some more shares here.
