Hi all,

I sent a message to Dave Webb yesterday asking about the trading patterns we are witnessing with Tyhee, and I also asked for permission to post his reply. As you can see, his answer is very general in nature, and, even though he gave no comments for or against posting it, I don't think he would mind.

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You are asking me to explain trading patterns or market actions that I cannot answer.  You need to ask someone who is registered to respond to these questions.

However, I can present you with some data prepared by some junior mining analysts.  All of whom have commented on the unusual pattern of rising gold prices and the declining junior market conditions.  Frank Barbera dedicated several pages to this issue.

Canaccord Adams has published the following graph:

This shows the average in situ value of an ounce of gold for the 42 non-producing junior companies that they follow declining to $62 per ounce from $100 per ounce in early November, while the gold price has continues to climb.  It would appear that this is not a Tyhee issue, but an industry-wide phenomenon.

One might suspect that as of November 2007 the average quality of resources held by junior minors declined, or perhaps the price of gold is due to decline to below $700 per ounce, or the average value of junior golds will climb to a valuation of over $100 per ounce. 

Dave Webb

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Sorry, but as you can see, I couldn't get the graph to come through.

His text describes it, however.

I appreciated his timely answer, and feel his advice behind his words might be "Patience, my boy, patience!"

Stone