Exploits21;

I don't know if I agree, but I think your idea of additional drilling is worth considering. Yes, while the share price is depressed any financing for additional drilling would be dillutive, but not nearly as dillutive as financing a $250MM mine. However, for the additional drilling strategy to work, we need to find mineable rock. ...the big unknown. Unfortunately, despite considerable drilling, mineable rock has not been discovered at Clan outside a small core zone ...however, low grade has been showing-up over a wide area, which is intriguing. In summary, I don't have a strong opinion here; but if we knew there was more mineable rock at Clan, it would be better to drill that rock now, generate market interest, and finance the mine in the future when gold and share prices are higher.

Baires2;

Yep, pump and dump, but that's his decision. I agree with Sinclair; the tide might finally be turning.

Isaiah;

Thanks for the feedback, but according to my calculation, the total FS resource (which is mostly M&I) is about 2.2MM oz, versus about 2.1MM oz in the PFS. Therefore the drilling done in the last few years, which has mostly happened at Clan, hasn't added-up to much. Still Ormsby looks very viable, and is still open at depth. At current gold prices, the NPV for this project is somewhere in the vicinity of $425-$450MM (gross estimate, I haven't done the mathematical extrapolation for the current gold price), versus the current market cap of something like 30MM ...therefore on a numeric basis at least , I would say Tyhee is remarkedly cheap. The only major concerns I have now are (1) complexities having to do with the ice roads, (2) how much dilution will occur during financing, and (3) the potential for a ridiculously cheap buy-out offer at something like 15-20 cents.

One interesting thing about the FS: Although there was a great increase in Reserves from the previous PFS, but the Resource total only increased marginally. In fact, I think the MI actually went down a bit; I don't even know how that was possible. In any case, it appears all the additional drilling at Clan Lake (beyond the core area) contributed nothing to the totals ...the grades were just too low. Fortunately, Ormsby looks very viable.

Baires2;

Do we know that Sportt has bought any more shares this year? If so, I would consider that a very good sign.

LC posted an interesting FS Analysis. Basically he is saying that the project has "issues" at $1,400 gold, but is workable at $2,000 gold. It's a good read. Although I agree with LC's broad conclusions (but LC's analysis is much more detailed than anything I've done), I'm still concerned how much expenses will increase in an economic environment where the gold price climbs to $2,000/oz. ....because a devalued dollar can increase expenses as much as revenues, but one would still hope the POG would outpace general inflation. I also agree with LC, and other posters on this board who have noted that the FS is a signfiicant improvement over the dreadfull PFS, and Briggs (and an increased POG) deserves some credit.

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