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Yukon Nevada Gold Corp T.YNG



TSX:YNG - Post by User

Comment by merkheton Jan 17, 2011 11:34am
218 Views
Post# 17983732

RE: ReReReRe ecl61 Posts

RE: ReReReRe ecl61 PostsHi Ice,

Long time reader, first time poster, as they say.

Just to get this out of the way, I'm a holder of YNG from about .38 in last August, so you know where I'm coming from (i.e. any biases).

I found the articles that you mentioned, and it looks like you might have read the October 2009 article wrong.

(https://elkodaily.com/news/local/article_256b5bf0-84fe-5684-ba4b-434859f83b8a.html)

The October 2009 article specifically states the following:

"Dickson said Yukon-Nevada plans to produce roughly 150,000 ounces of gold in the first full year of production at Jerritt Canyon once the mill reaches steady-state operations to produce gold from stockpiles and begins underground mining again at the Smith and SSX mines."

So they're saying that "once the mill reaches steady-state operations" (which happened in August of 2010), they'll "produce roughly 150,000 ounces of gold" since that will be their first full year of production.

I also found the January 2010 article you mentioned, and it doesn't say anything about 200 ounces a day with 400 ounces being poured on a good day.

(https://elkodaily.com/news/local/article_220800fe-993a-55f0-8a46-2ff9807785cc.html)

The only mention of the word ounces in the article is the following:

“Everything is running smoothly to 2,000 ounces per day,” said Yukon-Nevada Investor Relations Manager Nicole Sanches on New Year’s Eve."

I think it's safe to say that Nicole Sanches was misquoted on the 2,000 ounces per day figure (since that would annualize out to around 500,000 to 600,000 ounces a year).

As far as I can tell from my research, the new management team has not lied to the shareholders in terms of goals, guidance, etc.

Cheers.



(Sorry the formatting is all screwed up, the message composer for this board sucks hard.)
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