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Yukon Nevada Gold Corp T.YNG



TSX:YNG - Post by User

Comment by Ahsanon Aug 16, 2011 4:56pm
227 Views
Post# 18949057

RE: I use to like YNG

RE: I use to like YNGman not only that but its not like they are making money. look at their financials for this last quarter (june 30). they say they made 23 million profit. but if u look at the financials carefully they only made that because they had a gain of 33 million on warrants (33 million under interest and other income and also look at section 6). even at selling gold at an average price of 1541 they still couldnt even make a gross profit. look at this line.  During the second quarter the Company produced 22,168 ounces and sold 18,341 of these ounces at an average gold price of $1,541. their costs of sales were 30,191,000 and they produced 22168 ounces so 30,191,000 / 22,168 = 1360 gold price. horrible. there are so many companies that could produce at half of that cost. 1360. why are they even in business. after this they got to worry about administrative expenses, fixed expenses and development. dilution to the extreme. nothing for the common shareholders. all for mr deutsche bank. they are just burning cash.

if u look at yamana (i know big difference but just a comparison to make a point) they produced 278737 ounces of gold (i am not counting silver production... just gold production) and their costs of sales were 191,777,000 (include both gold and silver production). this is all last quarter numbers, i.e. 30 june 2011. so  191,777,000 / 278737 = 688 gold price. even with costs of sales including both gold and silver production they have a break even cost of 688. most likely they have a break even cost of 640 - 650 in reality since i counted silver too but regardless. below 800 is  what it should be. 900 or 1000 u are pushing it on the cost of producing gold but 1360 for YNG is just idiotic. if gold would not have gone up as it did this year YNG would have been screwed. yamana had gross profit of 292 million and net income of 194 million. this 194 million included a tax expense of 65 million. no bs gains on warrants no bs like that. 

sell or hope they do something to bring down their cost of production.
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