Kicking the Can ....AgainAgain we have artie and others coming back and posting about the dilution of shares....come on folks, ...we been through this before.......don't you remember when the share price was down to 2 cents in the winter of 2008/2009 when nobody would touch YNG with all it's liabilities....along came a couple of what I consider "White Knights" Orifer and Sprott....and they had what we needed most....cool hard cash.
Now, they could have let YNG go down the tube, picked up the pieces....and where would I and many other shareholders of YNG be....Well I can tell you....our paper would be worth nothing....our assets would be totally wiped out...our brokerage statements on YNG would show 0000000's
So along come Orifer and Sprott, they do a PP, buy shares, and get a free warrant...they buy hundreds of millions of shares...because they are not really worth zip....In the meantime they put Robert Baldock in as CEO to turn YNG around....They let Dickson go, and make him COO. I talked to Dickson , and he told me it was one of the hardest things he ever had to do in his life...he lost YNG .....But he knows now...if that hadn't happened....YNG was finished, everything would have been liquidated ...sold off to the highest bidder.
When Baldock got in control, he saw that YNG needed a lot of money to be rehabilitated....and they needed it now....so along came the Inducement Warrants...which we all hated...we foamed at the mouth about all this dilution...and I was in there bad mouthing the company at that time....But then I started asking questions to management...and I was told that they needed that cash flow from the original warrants...so the inducement warrants were issued. I know that the hat was passed around the office once during all this stressful time to raise urgently needed cash. From then on I knew we were going in the right direction...so I climbed on board, and started making money
What I do know, is that they now have a rehabilitated mill capable to process in excess of 6000 tons of ore daily. And as of July 1st , 2010, they were on stream to produce 150,000 of gold annually. We are on the verge now of being a mid tier gold producer.
We have seen the share price go from 2 cents up to 75 cents....a lot of money has been made by smart investors, and if Orifer and Sprott has cashed shares out....they have done alright...that's their business....which is making money.
Now let's get back to the old Queenstake/YNG shareholders....I have been in Queenstake/YNG since 2003....I have seen the backsplits...I moaned when the closed the mine and mill at Jerritt Canyon....my investments went south with the share price...I didn't like it...but that was 2008...the year the banks of the world almost failed....YNG failed as I previously stated. What I and other did was buy down as the shares were so cheap....we could have lost a lot of money...like throwing good money after bad...but we had faith...YNG was turned around with new major owners....I bought shares at 4 cents...some at 8 cents....and even more at different prices....my average price was down to around 18 cents. And I hold 210,000 shares....and I am not the only one that did this.....
But then we got some of the old Queenstake/YNG shareholders that sat on their hands and did nothing but moan and try to whip up stories about how bad the people were who ran YNG...but not knowing that it was a brand new game at YNG. At the last AGM, the two new majority owners cleaned house and put in their own people on the Board of Directors
What we get on this board is a few disgruntled shareholders, who can't see past their noses because of their ineptness, who continually try to discredit YNG with their twisted talk...like the latest on share dilution...what are they trying to prove???. We know there is share dilution...so what, it's there....and we still see millions of shares trading each day..... These people who try to discredit YNG have an agenda....they are shareholders like you and me, but failed to capitalize on a situation...they held their shares and didn't buy down....You can go back into these post for the past couple of years and see where artie says...he paid $6.00 for his shares...and there are others like him.....always ready to throw water on a nice increasing investment fire...they know they lost out...that's not our fault....that's theirs.
Maybe they are just crying in their beer, because of a lost investment opportunity...who knows.....but as I mentioned a couple of days ago...they are like a broken 78rpm record on an old turntable going round and round with the same twisted negative tales week after week...what are you artie et al trying to do...drag everyone down to your level????
Now artie, and others that try to crap on our investment (YNG)...what is your agenda?....what is your game plan?....what are you trying to accomplice? I think you are maliciously trying to hurt the share price of YNG by your actions on this Stockhouse Bullboard, .....and as an investor in YNG...I don't like that....your hands are dirty from all this crap you spew....so artie et al...govern yourselves accordingly