Based on my interrogation of personnel at the site, including the chief geologist, I believe that the following are facts:

1. Dr. Webb intends to be CEO of a mine at Ormsby;

2. Tyhee's core competency is finding gold cheaply;

3. Thyee's intention seems to be getting another party to actually build and operate the mine. Rather than contract it out to Nuna Logistics (at great expense), they seem to prefer the idea of buying the equipment and setting it up under their own control, however, where will they get the production/engineers?

4. A full-fledged takeover kills the exploration side, whereas a Joint Venture with a mine operator (major) would leave the core exploration program un-interrupted but better financed. As JP is known to value the junior's best value in exploration above all else, and he is the big kahuna shareholder, this is Tyhees perspective.

Conclusion: A joint venture that brings the cash and expertise infusion to accelrate the building of a modest sized mine is the most likely scenario. Tyhee continues to be the majority owner, but focusses on the exploration / mine life extension, while the joint venture partner brings the mine on line. Win Win for the two partners, and big win for the shareholders. NO BUYOUT.

SKELEG