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Message: Years ago, Being Patient With a Yellowknife Mine Paid Off Big!

Years ago, Being Patient With a Yellowknife Mine Paid Off Big!

posted on Nov 17, 2009 06:25AM

Here's a distant memory from an anonymous Yellowknife investor whose patience and perseverance years ago, may remind some of us why we are still here,

"You might find this interesting. I actually had an interest in Tyhee even before it was Tyhee. I originally held Discovery Mines... the original holder of some of Tyhee's staked claims from 1982 to when the last of the successors were acquired by Shell Oil and Penn West. I wonder if I have any of their old reports talking about the mining properties...?? I'm going to have to look.

It took a lot of years of waiting but I was up over 8 fold on my first batch that I sold out of in 1983-84 and the last 500 shares after multiple splits and acquisitions cost me $ 1,500 bucks back then and was good for a 10 bagger when they were acquired in 2006. I hope and expect Tyhee to do even better with it's management team.

I don't know If I will live that long this time... but you are definitely on the right track when you counsel the community to just be patient. Maybe I should share that story on the blog ? <grin> It sure would back up what you are telling them ! !

Incidentally, Discovery brought a million ounces out of that property back then. Tyhee already has well over 1.8 Million in M & I. The difference was They (Discovery) only had a Million shares issued at the time if I remember correctly where Tyhee is way more diluted then that already.

But it shows you what can happen. What was interesting with Discovery was It produced and produced and the price just sat and sat for years and then one day it just caught fire going from $ 1 a share to over $ 8.35 a share in a matter of days. That lasted about 4 days and then collapsed back down to $ 2.95 a share never to get above that again. So be ready when it comes my friend !"

Cheers,

Baires

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