Stone,

My subscription to John Doody's Gold Stock Analyst contains a nice table of what various gold PRODUCERS have their PROVEN & PROBABLE ounces valued at. The average for the 70 or so producers covered was $204/oz, which, he admits is low historically. On the upper end companies like Goldcorp and Agnico Eagle have thier P&P valued over $400/oz in the ground, while at the lower end Minefinders, which is now producing, was valued at only $84.

Now, comparing these numbers, $200 an ounce for a junior seems quite high to me. Of course, the current valuation is too low, however.

Mind you the above figures are for P&P. Measured and indicated ounces are not valued as high by the marketplace, which, from what I understand, is what Tyhee now has.

Personally, I believe Tyhee will increase their ounces, move ounces to P&P, and that gold will go significantly higher in the next few years. Factoring in these together can yeild explosive valuations for those ounces, in the future. A mania in all things gold will certainly bump those up by another factor. All this, however, requires patience.

I am patient sometimes but impatient others, and so for this reason, I own a combination of juniors and majors.

We are right. Who knows when, but we are right. This thing could come like a thief in the night, and I don't want to be out of it when it comes.

Hysteria