In May, 2009 Dave indicated to me that Tyhee would consider maximizing debt and would try to minimize equity and that often ¼ to 1/3 equity is the norm for projects like ours. The debt would be paired with a hedge program typically financed by a forward sales agreement financed by a put option so that a floor price in gold is established with an unlimited upside. The loss is about 3 to 5% of the current gold price.

Does this help our discussion?

K.