If this becomes an official policy I will wait until I am profitable and sell a substantial portion of my shares. Forward selling 100,000 ounces at say $1000/oz. such as would be required under a typical bank financing contract and being held to that when gold is priced at $2000 or more per ounce is exactly the form of stupidity Sinclair said almost all companies agree to.

It has become the norm to think and act big with big loans and big risks. That is why every country in the world with few exceptions and every state in the USA along with their counties are in debt and deep trouble. Get yourself in over you head like this and you risk the losing the company and all its property holdings. Banks inflate the money supply and create manias with huge amounts of debt and then they turn around tighten the credit forcing many into bankruptcy and buy the companies/properties for pennies on the dollar. They have done this everywhere in the world many times over. WAKE UP PEOPLE!

If one starts small and gold goes parabolic, the money will be there under favorable terms to expand. Start big and experience a severe downturn (local or industrywide)(deliberately manipulated or otherwise) and the whole effort becomes wasted. Those who love gold and have been pretending to hate it wind up getting it all.

Forward selling the gold in the groud is Stupidity with a capital "S."

If Tyhee needs to borrow capital to finance their mine (and they will) they should contract for that capital in paper money. As gold appreciates and paper money declines the loan becomes less, not more, of a burden. Why do you think the bankers always want the gold in the ground as their collateral. They know the digital paper money they offer is worthless. They don't need to get paid in that "refuse" they can create endless amounts of with the stroke of a computer key. "Refuse" is the polite description of their product.

I would much prefer a percentage (with a limiting clause) to another mining corporation. They at least have the same objective of getting the gold out of the ground and to some extent rewarding the shareholders.

P.