Baires,
Further to your last. What DW can't say without being too much of a pumper is what he truly believes to be the amount of gold that underlies what's been discovered so far. As we know, he has said many times that Con and Giant never had even 2 million ounces drilled off at any time, and keept expanding the mine as they went. In Tyhee's case, they will expand underground down below the 300m or so they are drilling off now from the survace, down to waht, 1400M and below. From the first few NI43101 reports, with that cross-section showing Discovery mines depth along side the ormsby resource, I think it is quite reasonable to at least tripple the resource, which would take it to the same depth as Discovery. Add to this the fact that the resource at clan lake is still expanding on the surface, with those 7 new showings, and what DW cant say is this:
The top 1/3 of the gold, which is being drilled off towards 3 million ounces will likely become 4 million ounces by the time the surface / top 300M are completely explored at the known showings, then tripple this to depth. So with as much as 12 million ounces quite realistically possible, the mine life and production rates will be expanded. Lets' say during the first 10 years of operations, this probability becomes a reality.
So then TDC goes from being modest producer with reasonable costs to start up, but with a privately held view that it will be 10+million ounces rather than 2, the decision to make a deal on electricity from Blue fish makes even more sence, as a much longer mine life and expanded production being the long term vision, it makes even more sense to invest in the electrical power infrastructure and ultimately, surface road to Yellowknife.
These things will be obviusly appearant to the larger investors, and this means that once Tyhee gets through this long wait to the DAR and into the final year of the permit stage, and risk is reduced, the shares will rapidly become much much harder to acuire.
Having said that, I expect it will stay low from now to the end of the next PP. This next PP would be for the Feb - April 2010 drilling season to expand Clan Lake, and some more money for the permit processs / mine design work for the year 2010.
I put it to you on agoracom, how much should they raise? I think they shoudl only rase 3 million: enough for more drilling but not soo much as to dillute the share price too much. 3 million shares at say 15 cents is about 20 million more shares.
But when the true scale of tyhees mine life becomes fact, and production rises from 130,000 ounces to 500,000 ounces, and althought the 2015 costs may be $500 per ounce, gold price may be $1500 per ounce. That would be $1.66 per share (over 300 million shres) times a P:E of say 20, givinng a share price of $33. Even if it's only one third what I guestimated above, that would still be $11 per share. For sale today at 15 cents!
SKELEG
