Yukon Nevada Gold Corp T.YNG

YNG...Update

[romara]

I had a chance to speak with Nicole today. I asked her some questions on how the mill was doing and when can we expect YNG to start mining on their Jerritt Canyon properties, We had a good talk and it was explained to me that the mill is putting out a "steady amount" of gold dore...with a pour every week. They are working away at "paying off the accounts receivables" that grown since the mill shut down last year.

About the mill, they are now, or about to start processing toll Au ore from Great Basin, The final installation of the mercury scrubbers should be done by this week. Graham, who is now the COO, is supervising at the mill site, and has left the organizational day to day management to the  new CEO. The mill can handle up to 4500 tons of ore per day, but when fully operational will run efficiently at 3900 tons per day.

The new mine manager has inspected the existing mines, and most are in very good condition and dry. He has to get on stream, and plan which ore bodies are to be mined efficiently to achieve the best Au ore results. This all takes time to find out what defined ore body is to be mined first to get the best results during the oncoming mining operation.

We also talked about the long range goals of YNG....It was explained to me that they hope with the proper plan and execution, that they would be a "mid tier gold producer" once all the problems are cleared up ....we all know this isn't going to happen overnight....but will happen progressively.

I am staying long for the long term,....because we probably will not see sudden share price increases....but a gradual increase of share price as value is achieved through production, and increase of gold value. 

........Richard

[arthur7440]

   Thanks      Artie

[romara]

Correction...In this paragraphI had a chance to speak with Nicole today. I asked her some questionson how the mill was doing and when can we expect YNG to start mining ontheir Jerritt Canyon properties, We had a good talk and it wasexplained to me that the mill is putting out a "steady amount" of golddore...with a pour every week. They are working away at "paying off theaccounts

[jimvicki3]

Great report Romara,Just what I wanted to know.Everything is on schedule, especially the part where the scrubbers are almost ready to install which will produce more gold.I think if they keep producing like they are and no surprises...we all should all be GOOD.Good fortune to all........

[algrove]

It was understood from the context that you meant to say accounts payable.  Thanks for the info.The graph showing 20 cents +earnings per share at $900 + gold price on a fully diluted basis certainly catches ones attention and is very bullish if it were to come true.   Unfortunately not having been at the AGM we don't know what qualifiers they gave when they discussed

[talkswitch]

"The final installation of the mercury scrubbers should be done by this week."  ( be the end of may)" The Company expects to take delivery of the fiberglass duct work andhave the new mercury emission control equipment installed before theend of June."What a joke!