1. It has been pointed out that JP has reduced his holdings in Tyhee. Granted, he still has a rather large position, but what was the thought behind the reduction:

a. Raising cash to meet fund redemptions?

b. Raising cash to buy other juniors?

c. Gas money for his sailboat during his August vacation?

d. Lost a sailing race and had to pay up?

This reduction came at a very low point in the Tyhee share price and runs counter to his exhortations that now is the time to buy the juniors as they are falling.

2. Last week, a few guessed that JP may be buying Capital Gold. It is not listed in the recent report as a holding, so this may be a rather new purchase.