TYX will have an upgraded resource for Jumbuck around the same time as AGS has an initial resource for the Wilcherry project.
TYX is increasing their Jumbuck ownership and decreasing ownership of Wilcherry.
They can't afford to fully fund Jumbuck and contribute to Wilcherry as well as progress their other projects also. There would be too much dilution.
They made the decision to let AGS fund Wilcherry and still have a share of the project. To me, its the right decision.
They want to focus on Jumbuck as they are looking to their partner WPG to mine the deposit if they can increase the size of the deposit from around 270koz to 500koz at a mineable grade.
This is about becoming a producer soon as is the acquisition of the Eureka mine.
TYX holds shares in KAI and OGX which both have growth potential in the short term, which can be sold to fund further exploration down the track. They have issued a stack of shares recently at .017 to set themselves up as a diversified explorer and potential producer.
TYX doesn't need to outlay further funds on Wilcherry as they can only fund so much without further dilution. They will still get an sp kick from Wilcherry if the initial Jorc is promising, which I think it will be judging by drill results so far.
I was a holder of AGS until I recently sold to buy more TYX whilst they were down. I think TYX has more short term growth of the two, but that's just my opinion.
TYX Price at posting:
2.4¢ Sentiment: None Disclosure: Held
