OK, Tyhee shareholders on this forum, the Ming discussion provkes this:

I think we should set the bar for what would be an acceptable JV from shareholders perspective. Vote yes if you agree that we should not make any deal LESS than the following:

1. Any deal taking in a partner on developing the Yellowknife Gold Project should value what Tyhee has achieved, in terms of the geological insight, exploration effots, progress on the EA, good will in the community, years of effort, tenacity during the financial crisis, continuity and local experties as worth a HUGE premium over the current market cap.

2. The valuation of the project will iether be based on taking up ALL the claims, or just those that could be taking ore to the mine at ormsby. My view is that it would be best for tyhee shareholders to EXLUDE CLAN LAKE and Big Sky claims from a possible "new" company, and leave them in Tyhee. This means a deal would be on Nic Lake, Bruce, Ormsby and Goodwin Lake, even though GW is not in the EA).

3. The value of the EA and PFS, given that the language of the Ming PR says as long as "certain milestones" are achieved (PFS, EA), is ENORMOUS.

4. The deal would obviously be about cash to finance the continued develpment and must be deep enough to get us into production. My own baseline, as a shareholder and on of say 50 who comprise 10%+ of the company, is that based on the above, I would vote "YES" on a 50-50 JV based on an inject of cash to buy in to a 25% of the project. To buy in for 50% would be a different calcuation. 100% yet another.

Based on value tyee at $350 per ounce RESERVE, and presume that reserves based on the PFS will be about 1 million ounce, values the company at just $350 million. But the good-will and other aspects of Tyhee's dominance in the YGP must also be valued. So I say it's worth $500 million or more TODAY and $ 1 billion once in initial production at 180,000 oz/year.

To buy in NOW, before PFS and EA, with a rider of those benchmarks being accomplished, is like bying in AFTER they are accomplished. No fire sale here1

So to buy 25% of the project (less Clan and Big Sky) is worth $125 million dollars. 50% is worth $250 million dollars.

SO any SMALLER deal of say $50 million, with financing of the mine still to be done, would only be worthy of 10 to 15 %. I've seen majors do deals like that, to begin relatinships in view of future infusions when things continue inthe right direction and the company gets intimate with the project.

I would rather Tyhee not make a deal for more than 25% of the project, and that Tyhee remain in the drivers seat of exploration of the camp. There is no reason to give away the store. This is a bonne-fide gold camp, after all.

Also, the net present value of the mine at Ormsby, with CDN dollar at par and gold over $1100, oil at $85 and electricity available from the local hydro tuility -- should be on the order of $500 million dollars.

Vote "yes" if your expectations are as high as mine, or offer an alternatve valuation and call for votes. We'll be able to communcate to DW where we stand. Things may be in play next week, for all we know (I think Tyhee will do a news release on Monday).

A yes vote here values any JV in April 2010, based on excluding Clan Lake and Big SKy claims as:

$50 million = 10 to 15% of the project.

$125 million = 25% (preferred option)

$250 million = 49.9% of the deal.

$500 million = the entire project sold now, cash, excluding Clan Lake and Big Sky.

Please indicate your agreement with this as a iminimum, or propose a lower minimum.

SKELEG