RE: RE: RE: Someone is going to get nickedGuys....Now is not the time to get pissed at this stock, or the people running it.....nothing like negative thoughts, or actions when you want to see shareholder's value increase. I have also been here a long time....I bought into Queenstake back in Oct 03 went through the 10/1 backsplit in July 07..then seeing the value of this company spiral downwards....and implode last year to .02 .....I and many saw a great buying opportunity....and we bought down and averaged out....I am in the green now on 130K ....so the last thing I want is Negative Nellies raining on the parade upward.
About the info yesterday....none of it came from a YNG employee......when The IR person Nicole wouldn't return my call....and Bob, the CEO was away on a business trip....I put 2 and 2 together and sought other sources of info...which were productive ...all you have to do is your homework, and you can find out what is happening...it's not like the old days when long distance calls were a buck a min.....now it's .07/min., and if you use a bit of honey, the world is yours.
If you look back into what MYNG did, or didn't do....we may have been into production a long time ago. The reason the mill was shut down last spring by NEPA was because the firm that was hired to do all the other pollution control remiedial work did zilch....now YNG is going to be financially penalized for that work not getting done by time they restarted the mill. By what I have been told, they had a provisional Consent Decree in place to restart the mill...which they did ....but when the state of Nevada followed up and found none of the violations had been corrected...they shut it down until the formal Consent Decree was actioned by their courts.
Now about the money, YNG had to raise money to keep operating, they have not let their staff go at the mill, you have a payroll of approx. 70 people working at the mill under Graham Dickson's direction to correct all these secondary pollution problems....this when the share price is about .10 or .12 . We also don't know what the penalty is. I bet it could be up to a million dollars in fines.
So what are you going to do.....not get new money and dilution....or let it sink. I don't like what has happened....but during this dilution share prices haven't dropped, you could argue they have because nearly everyone else has risen.. I'm just holding my nose...it smells....but as a pig farmer says....that smell means money. One thing from now on...put what has happened down as history...it happened...we couldn't change it...let's all look for some good shareholder value to this stock ....and then sellout ....this is just a property that I have hung on longer then I wanted ....but we will make a GOOD BUCK when it's ripe........So have a great Thanksgiving...I am.....Richard