newb.RE: RE: RE: RE: YNG - My Thoughtsnewb, just go to the june 11, 2009 NR...and this is part of it. They have a lot of stockpied AU ore...and here are the figures.
This from below ....so they have a good cash flow with the stockpiled ore....so why all the
Inducement Warrants???
These ROM pad resources will allow the Company to achieve the presently budgeted throughput of 3,300 tons per day. Upon recommencement of milling it is sufficient to produce at the rate of at least 2,000 ounces of gold per week for the next nine months at a cost per ounce of approximately USD $300.
The Company reserves and resources at Jerritt Canyon, not accounting for 2008 mining and depletion, are 717,300 ounces of gold in the proven and probable categories and 1,961,100 in the measured and indicated categories as reported in the April 16, 2008 NI 43-101 report which can be found on
www.sedar.com or on our website here:
https://www.yukon-nevadagold.com/i/pdf/Jerritt-NI430101-Apr08.pdf. In addition, there are ounces already mined and stockpiled on the run-of-mine ("ROM") pad. These ROM pad resources will allow the Company to achieve the presently budgeted throughput of 3,300 tons per day. Upon recommencement of milling it is sufficient to produce at the rate of at least 2,000 ounces of gold per week for the next nine months at a cost per ounce of approximately USD $300.
The mill facility is currently licensed to treat 4,320 tpd with an overall potential capacity of 6,000 tpd.
To ensure ongoing operations once the ROM stockpile is processed, the Company has hired an experienced mine manager and additional staff who are presently planning the re-commencement of profitable underground mining operations. The Company's mined ore would be supplemented by toll treating ore from presently identified customers who either have no mill or have insufficient capacity in their own facilities. The Company is presently in discussions with two "within economic haulage distance" companies and the combination of these ore sources would allow the Company to achieve at least the permitted throughput of 4,320 tpd once operations are permitted to re-commence.
There will be a job fair held on June 11th at 11:00am PST at the Hilton Garden Inn Hotel, 3650 East Idaho Street, Elko, Nevad