RE: RE: what is Going Onhttps://classicvalueinvestors.com/i/2011/01/yukon-nevada-gold-corp-turnaround-story-yngff/
Luxembourg. Jean-Edgar de Trentinian, President of Orifer SA(“Orifer”) announces that Orifer intends to sell up to 140,400,000 SharePurchase Warrants of Yukon-Nevada Gold Corp. (“YNG”) from its controlbase. This sale will not result in a reduction of Orifer’s and Mr. deTrentinian’s direct and indirect shareholdings of 190,480,500 shares,representing 25.20% of the issued and outstanding share capital(755,816,679 shares) of YNG, but if completed will reduce the number ofOrifer’s presently held warrants to zero. The securities will bedistributed privately. The proposed commencement date of the sale isApril 28, 2011.
Based on my conversation with Yukon, the exercise price is
.32. Thenew buyer is required to exercise. This will bring about $45 million tothe company which is good. But here is the bottom line. The new buyersare buying Yukon shares at
.32 because they are required to do so andthen they are probably turning around and selling it on the open marketfor a quick gain. Because their shares represent a huge part of all theshares outstanding, they are causing the stock to dive.