Baires: A merger at equal value of shares would be acceptable to me.

Tyhee has a pretty clear value in the short term, with an FS and permitting under way, and with near term production plans - but without financing it won't go very far. If the principals can arrange financing for TDC at some size before a merger this would benefit the TDC share price enormously and we would not have to pay as much for WCX shares, or alternatively it would make a merger unnecessary. But this does not seem likely, a merger seems inevitable to me, what matters is the terms, and that is pretty much under the control of the principals since they control the financing processd and its timing.

We have no clear way of valuing WCX because they are a speculative early stage explorer and not close to production anywhere but have projects with good potential in past-producing areas in BC, and an entrepreneurial spirit which means a lot, so a combination could create a critical mass of size in near term production and a high number and value of projects with potential production which could assist with completion of financing. That would score highly and raise the value of a merger to Tyhee shareholders and therefore raise the price of the WCX shares relative to Tyhee. It depends if Tyhee can raise financing without a merger - and how much - but I think a shot in the dark is a 50/50 split. Ike