Mr. Brigg's estimated start date of 2014-2015 is the only negative surprise, and perhaps not a big negative at that.

The chart on page 17 of Tyhee's December 2011 Investor Presentation (which chart admittedly was updated only as of October 2011) indicates that construction of the mine would run from the end of Q4 of 2012 through Q4 of 2013, with operations starting in Q4 of 2013. To many of us, mine construction was more likely to take about two years, putting the end of construction/beginning of mine operations around Q4 of 2014. Awhile back, I had a post where I was thinking two years, and inadvertently did the timeline for a one year mine construction.

It appears that the new estimate of operations yet more conservative, suggesting that mine construction may not end, and mine operations may not begin, until (presumably the beginning of) 2015. Based on the new mine construction estimate, I would expect a stock price ramp from the beginning of mine construction through six months before the first pour, say, Q3 of 2014.

Again, perhaps, not a big negative as it just means that the gold will be mined at that much higher of a price.

Old School