YNG Update - Moving AheadI spoke with the Vancouver office this afternoon.....and not much is happening....everything is in gear and moving forward.
They are "busy making gold....and not spending valuable time putting out fires"
They are on target to be in a
"steady state of producing 150,000 oz. per year" starting
on July 1st. 2010....
And here is a press release today from Great Basin Gold about their dispute with (Queenstake) Yukon NevadaGreat Basin Gold Corporate Developments - Press Release 21 June 2010
Great Basin Gold has settled its previously disclosed dispute with Queenstake by execution of an ore-processing contract for 5000 tons of high grade and a like amount of lower grade ore on the basis that the parties will split the metal proceeds and milling costs of $88 per ton. As well, Queenstake’s share is reduced if metal recoveries are off by more than 10% from the targeted recoveries of 88% Au and 82% Ag. The settlement eliminates all rights of first refusal and allows Great Basin Gold to immediately process ore stockpiles and production in excess of the capacity of its Esmeralda mill through Newmont’s nearby Midas mill.
I have been told that after July 1st....things will get boring....they will just have the production figures, when they are due....and as I said before in this post "busy making gold....and not spending valuable time putting out fires"
And as an earlier statement "They are pouring Gold and making money"
It looks like clear sailing guys....they pay down the booking debt, and ........make money for us all........Richard