That good quality juniors are not attacting an influx of cash while gold is near

all-time highs is an indication that investors are TERRIFIED of another major

downleg in the global economy. Small "h" recession, where we started at the top left of the letter, went down, came back up a ways, and are on our way back down hard, to stay down.

THe market is pricing in a catastrophic failure of the global economy, as if the great profits available a few years from now, when projects like Tyhee's mine will come to fruition, is just TOO LONG for investors at present.

But six months from now, when we are deep into the double dip, W, or h, whatever letter you choose, the price of gold will be making new highs, and Tyhee will be that much closer to production.

Maybe it's taking longer than we hoped, for Tyhee to garner respect, but now Tyhee had reserves to show, and soon a DAR submission. THe closer we get to the permit, the more relevant financing becomes. We don't need financing for the mine this year, but maybe we'll need some more cash for current operations.

I'm hanging in there, and will buy more shares whenver I get a windfall.

There's nothing wrong with Tyhee, in my view. There is certainly something wrong

with the marketplace. A great deal of fear, and the US treasury sucking the lifeblood out by issuing so many bonds. It's an ultra-low tide for us, and our ship is high-centered on her keel, but she is still sea-worthy.

Am I right to assume that we'll be able to read the Pre Feas in more detail by September? After ths summer doldrums, and when the real volitility in the stock market comes back? Great for gold.

SKELEG