Something to consider is that the statistic that 5% of exploration projects will become a mine, one has take into account that this data includes the dark period of time when even productive mines were shut down. For 2 decades hardly a single mine was opened. I believe that there were more producing mines shut down than new ones developed from the early 80's 2003.

Higher prices and demand is making previously unviable projects viable.

Which probably means that there will be a higher percentage of high quality, well defined, exploration projects developed into mines.

Also consider that of the 2000 or so exploration companies out there, a very high percentage have little exploration going on and are in very early stages.

From my perspective, I think you can put Tyhee in the top 25% of exploration projects and of that group, I believe we'll see a much higher percentage than 5%.