Why would a major be interested in Tyhee's deposits?
in response to
by
posted on
Aug 11, 2011 05:52AM
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Kinross, a major, bought Underworld. Underworld had no reserves, no prefeasibility study. Their drill results were not that different from Tyhee's. Geologists know what great potential there is in Archean deposits like Tyhee's. Detour Lake is Archean.
Blue Sky potential is what would interest a major. Tyhee has a lot of Blue Sky potential in its mostly unexplored constellation of near surface deposits and those deposits at depth surrounding a proposed central mill. Webb has shown how trucking these deposits to that mill is economic. A major, with lots of cash, would be able to increase the pace of ressources added relatively cheaply considering Tyhee's gold discovery cost is about $25 per ounce. That should be catnip for a major with cash when their costs have been considerably higher. Tyhee's Pre-Feas. has already shown that there is money to be made at their proposed operations.
Agnico Eagle bought Tyhee's northern neighbor, Cumberland Resources. But, they did it around the time it was receiving its permits.
Talk about catnip. Let's see how attractive Tyhee looks to a major next year if/when its positive Feasibility study is released and permits are within reach.