I think the basic idea is they won't need a whole lot of capital except in the very short term and they want to get that - if they go the financing route - on better terms than those which have driven gold mines into receivership recently. Based on their comments they have already done the legwork and have some deals in the pipeline, though at what stage is not clear, this is important because of Tyhee's burn rate, but I'm guessing when Hans Black talks to the big papers in the US as he has done, his own cred is at stake and he will have a pretty detailed and advanced strategy already in place. They have had a long time to organize this using our money (lest we forget). But they also have a lot of their own invested, Tyhee is increasingly closely held, so yes they can do what they want but they also want to maximize their profit.

They hibernate the YGP to barely ticking over, use whatever capital they have to negotiate deals and start up operations somewhere else, pay their costs through the existing financing in place and/or negotiate new deals on better terms if necessary, get the payoff through their improvements of efficiency and creating value at other mines, build their cred so that financing costs go down, and eventually the MVEIRB and Yellowknife will come around. If it takes a long time, all the better. I think the only big risk (I stand to be corrected on that) is what Puz has said, which is they sell the YGP and toodle off together in their own new entity. They obviously get along really well with each other, which is crucial to them and to us. Reminds me a bit of when Keith Neumeyer started up First Majestic, but obviously not quite the same. Ike