Just returned from the trade show...... in Munich and talked to Richard Moritz (Institutional Investor Relations) and Nicole Sanches. Very nice people by the way.
We talked about the perspectives of YNG over the next 12 to 36 months. They confirmed that Roberts target is, to produce about 1 million ounces per year with YNG ore within 3 years. Also their focus is completely on Jerrit Canyon.
Some of the guys at YNG would prefer to spin out Ketza, once it has reached a certain value, and use the proceeds to accelerate the development of Jerrit.
At the moment they are producing ~8000 - 9000 ounces a month out of YNG ore from Smith and the stockpiles. With the additional ore from Newmont and the upcoming ore from SSX/Steer, they are very confident to reach and exceed the production target easily. Starvation will be up at around mid 2012 and contribute another 500 tpd with grades around a quarter ounce per ton.
They are in the process of acquiring other gold projects around Jerrit to secure the feed for many years to come. There are roundabout 15 potential acqusition targets and they talk to all of them. So they seem to be in a fairly good bargaining position.
They see between 2 and 3 Can$ as fair value for the share price in the mid term, considering the peer group.
Thats it for now. I have to walk the dog, it's getting dark over here ;)