Romara's OptimisimRichard,
You’re an interesting diehard. I’m similar, but recently felt a bit of a foot in my mouth, tending to be over zealous when it comes to the eventual triumph of gold as a currency. I can be misinformed if not flat wrong about some things. Where I try to learn from my mistakes, I continue to read those with greater knowledge and experience than myself.
I appreciate you relaying your conversations with Nicole. I’ve traded some e-mails with her over the years.
Is Caddo wondering about the settlement of the lawsuit that involved Queenstake before the merger? I was trying to stay on top of that with Nicole and it seemed to me that if there was a favorable outcome it would be worth $8M - not $80M...? Anyway, that suit did go to mediation, there was a recent press release, and I believe there were no funds that were awarded to YNG - am I right?
I see some positives in YNG, because I believe there will be a price of gold breakout. I think financing will happen after a POG breakout, (if not sooner.) I have posted here before the point that the timing for pulling the plug was very good, and now even better where the POG is lower still. I did hear a knowledgeable person say the banks are holding the recent government funds pumped into the economy because they want to make money with them. Loans will be hard to secure, and only given to businesses with assets high in value, in case the loan didn’t work out and the bank was in a in a liquidation situation. He said that a situation might arise where banks will want to invest in gold and gold companies. Once again, given a POG breakout YNG should be able to get some help.
I’m concerned about the environmental infractions, law suits, compliance... Will the EPA look the other way due to the need for YNG to be up and running in an economy that desperately needs profitable industry...? Any feel from Nicole on JC legally coming back online and being environmentally good to go?
I bought some more YNG today. My bet is the POG breakout will come.
Even with a POG breakout YNG is a risk for sure. However, if the POG breaks out while YNG still possesses ownership of a mothballed JC, I think all of the shareholders who have averaged as you have will recover and beyond. You never know how the government might mess it up, but certainly there is a chance things will work out.
The easy money in the stockpiled ore is one thing. For me, the value of the mill, the resources in the ground, and the newer, better-located, higher-grade discoveries are the clincher.
G.