Just a Road Bump on the Way to the BankAfter reading the letter from YNG this morning....I don't see a problem....if we get a share price drop today...I'm buying some more shares...let's shake the tree a couple of times....maybe we can pick up some cheapie shares....those that go long....will last.
I will give Nicole a call this morning....to try and find out more
Richard
Here is the e-mail
Vancouver, BC -June 1, 2009 -Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange:NG6)announces that a delay in the fabrication of certainfiberglass ductwork has resulted in theCompany being unable to meet a deadline to complete the installation of newmercury - emission - control equipment at the Jerritt Canyon Mine. Therefore, incompliance with NDEP Order 2009-4, Queenstake Resources Inc. USA (Queenstake),awholly owned subsidiary of Yukon-Nevada Gold Corp. (YNG), has discontinuedoperation of its roaster circuits at the Jerritt CanyonMine.
Theductwork will be used in the installation of a calomel-based mercury controlsystem required by the NDEP to ensure the company complies with state-mandatedmercury emission limits, and to minimize the proportion of oxidized (reactive)mercury released to the air.
Queenstake notified the NDEP that both roaster circuitsat the Jerritt Canyon Mine ceased operation at 11 p.m. May 30.
Queenstake has successfully complied with otherrequirements of operation per NDEP Order 2009-4. While the roasters are off-lineto complete the required work, the processing of ore already roasted and therecovery of gold will continue.
TheCompany expects to take delivery of the fiberglass duct work and have the newmercury emission control equipment installed before the end ofJune.
HISTORY:
Following a year-long investigation into mercuryemissions, in March 2008 the NDEP ordered Queenstake Resources to install newstate-of-the-art emission control equipment at the Jerritt Canyon Mine by theend of that year. Before the NDEP's order was satisfied, Queenstake Resources,by its own action, stopped mining and processing ore at Jerritt Canyon Mine inAugust 2008. The facility remained shut down while the new emission controlsystems were designed. Staff from Queenstake Resources and the NDEP workedtogether to resolve several air emission issues related to the roastingoperation.
NDEPissued an Order March 25, allowing Queenstake to restart ore processingoperations after the mine's initial environmental compliance was satisfied. Therequirement to shut down the roaster does not affect the operation of themilling and gold recovery portion of the plant. This ensures that the Companycash flow and other operations can continue.
Yukon-Nevada Gold Corp. is a North American goldproducer in the business of discovering, developing and operating gold deposits.The Company holds a diverse portfolio of gold, silver, zinc and copperproperties in the Yukon Territory and British Columbia in Canada and in Arizonaand Nevada in the United States. The Company's focus has been on the acquisitionand development of late stage development and operating properties with gold asthe primary target. Continued growth will occur by increasing or initiatingproduction from the Company's existing properties.