Yukon Nevada Gold Corp T.YNG

Wrapping It Up

[POG1200]

Friends,
 
I did receive a response from Nicole back on 11-25.  This is from that response:
 
“The Company is working towards being self sustainable, but we do have quite a bit of outstanding liabilities that need to be taken care of right away. This is why we are asking those shareholders that hold warrants from the Dec 2008 and Aug 2009 private placements to exercise their warrants early. We need the cash up front to pay certain vendors and suppliers. Once we are over this hump things should run smoothly.”
 
Nicole went on to say that YNG was looking at developing the underground mines at Jerritt Canyon and that this would be done with debt financing.
 
Recently, an experience with another penny gold company that is reorganizing in BK court, would have lost me my shares if I did not sell them this last Thursday morning before the market closed for the holiday, because the reorganization plan will not include publicly traded shares.  This experience has helped me to know better the appearance of a gold mining company headed towards BK.  These are the signs I’ve learned to look for:  Unhappy board postings, deepening debt, ongoing concern language in reports, and excessive dilution.  There may be more, but enough of any one, or combination of these, and it has become my goal to have the discipline to get out while the getting is good.
 
I exited my position with YNG on Thursday and have redirected that capital into an unhedged, profitable, dividend-paying gold producing company that demonstrates a true value for its share holders.  All of these problems that Queenstake and YNG have had is just not the way it is supposed to be.  
 
I may continue to read here for a while, but I don’t expect to post again.  GLTA.
 
Sincerely,
 
G.