This a good thingThe private placement has price limits above the current stock price. I have bought in the past two days and was required to bid above the ask to cover the exchange diff and floor broker fees. There is not that much stock available. The big boys see this as serious turn around with an upside of 4-5X from here. Nevada is getting ready to go back fully on line in Juneish. The CEO keeps pounding the 150K ounces one year after full stability. So the first time anybody is gonna see results that show ANY hope will be Oct 2010.
The money here is for Kiska which is a fully equipped mining camp that requires a re-furbished mill. once that is in place and their is some hope on that front, YNG will have a little sizzle from two revenue sources.
This is an amazingly sucky stock if you are here long term. If you are a newbie this has fantastic upside. If you are a long term holder with balls of steel, you add here to average down. If you just want to lessen loss and get out, then by June 2011 you should be able to leave with about $1 per share in your pocket.
That serious European money is here, that BNP Paribus is here, that a new no pump CEO ( that is my impression anyway) is here and things are gradually lining up, says to me that there may be some price softening over the next two months; but as we get closer to Oct 2010, the stock price will be firmer and higher. In the meantime, I'm looking for ways to add.