Herewith I am contributing some info that may conceivably augment the future perceived value of YNG shares for those who are currently subscribed and for future shareholders:
Yesterday, I had a direct conversation with a senior production person from the Jerritt Canyon mine and mill operations. The following salient points are based on the issues I raised regarding the mill capacity and production potential going forward:
1. The yearly scheduled 2-week early May shutdown for maintenance and upgrades was completed satisfactorily. The roasters were brought back online and gold pouring has resumed.
2. The mill is now running quite well and continuously with an increased production from the previous 140 tons per hour (tph) to the current level of 160 tph as authorised by the state environmental agency NEDP. This extrapolates to 3840 tpd. It is noted that the installed pollution preventative devices are running at only 5% of the maximum capacity allowed by the state angency (NDEP) under the Consent Decree.
3. The operators of the mill will slowly bring the mill up to it's maximum throughput production of 6000 tpd; This will be done under the supervision of the onsite technicians and the NDEP to comply with the existing Consent Decree.
4. Presentation of Queenstake Jerritt Canyon weekly or monthly production figures are NOT feasible, because all figures would have to be audited, and this would be time consuming and costly.
5. Au ore is now being mined at Smith Mine and is currently being processed in conjuction with the previously stockpiled ore. The SSX Steer Mine is expected to be coming online soon, which will further augment the currently mined ore reserves
Based on a realistic analysis of the Au production potential implied in the above (the gold spot price, appearing to be remaining somewhere north of $1000USD), my own extrapolation of the second quarter figures shows clear improvment over the first quarter and looks to be significantly superior again for the third quarter.
Marketforces aside, IMO there would appear to be something of a disparity of the value of the current share price of YNG and what it may be in probably a year from now and further.
Anyone who has done research knows the misfortunes encountered in YNG's background history. To find out what the potential of where YNG can now lead, I strongly suggest the reader completes the essential DD, looking at the ozs/ton (or gm/ton) numbers for the stockpiled material and the two mines and associated volumes. You may be quite pleasantly surprised if not startled! ............Richard