posted on
Jun 29, 2016 02:40PM
Puz, Tyhee is in debt. They owe RMB about $10 million Canadian and climbing. (By the way, there was no debt when Webb was CEO). If RMB isn't paid back, worse case scenario, they will eventually, probably foreclose on Tyhee. So, where is Tyhee going to get enough to repay the loan and continue its operations?...... Answer: Hopefully from one of the so-called "dozen or so" groups that is now working with Red Cloud....... When Tyhee got into this debt pickle it seemed then that there was a high likelihood they'd get financed enough to buy Sutter and use its production profits to repay the loan and take the YPG into production. Well, that didn't pan out. ....What insued, instead, was the greatest gold mining bear market in history and the disappearance of funding sources. Alternatively, Tyhee certainly couldn't continue to finance itself by diluting its shares by selling more of its stock when TDC was trading in single digits. .........Puz, if/when Tyhee is sold, let's hope we shareholders are paid with the acquirer's shares. And, that we profit as the new owners become more successful when their Yellowknife Gold Project goes into production.