Yukon Nevada Gold Corp T.YNG

Big News

[arthur7440]

WebBroker Alert

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YS Mining Announces Withdrawal of Cash Offer to Purchase All of the Outstanding Shares and Debt of Tagish Lake Gold Corp.

cnw






VANCOUVER, Sept. 24 /CNW/ - YS Mining Company Inc. ("YS Mining")
      announces today, that effective immediately, it has withdrawn its offer
      made on September 8, 2010, to purchase all of the outstanding shares and
      debt of Tagish Lake Gold Corp. ("Tagish Lake").  Accordingly, YS Mining
      will not be taking up any shares or debt tendered to its bid.
   



      YS Mining's decision to withdraw its bid was the result of several
      factors, including the recommendation of the Board of Directors of
      Tagish Lake to reject the YS Mining offer, notwithstanding that the cash
      consideration offered by YS Mining was 20% higher that the cash
      consideration offered by New Pacific Metals Corp.
   



      About YS Mining
   



      YS Mining is a non-reporting corporation organized under the laws of
      British Columbia.  Approximately 41% of the issued and outstanding
      shares of YS Mining are owned by Yukon-Nevada Gold Corp., a reporting
      issuer in the provinces of British Columbia, Alberta and Ontario, which
      trades on the Toronto Stock Exchange under the symbol "YNG".
      Approximately 59% of the issued shares of YS Mining are owned by
      Northwest Nonferrous International Investment Company, of China.
      Currently, YS Mining holds (a) 10.7% of the issued and outstanding
      Tagish Lake shares and (b) approximately $3.4 million of secured
      and unsecured Tagish Lake debt, making it Tagish Lake's largest
      shareholder and largest creditor.
   



      By Order of the Board of Directors
   



      YS Mining Company Inc.
   





For further information:

Graham Dickson, President & CEO<br/>[phone]

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[hbeaulieu]

In your opinion, what will this news mean for YNG?

[arthur7440]

 Dear Sir My Point of View is,,  Do your own D,D,  and you will find the answer that the rest of us Know

[hbeaulieu]

I have. I was interested in your take. I'll remember not to ask, although I was under the apparently mistaken impression that these boards were for that kind of discussion.

[jimvicki3]

Mr h,I think it's OK as the market reflects thatI think some other co offered them .10 and we offered .12I think they may be kicking themselves for not jumping on thisthis info and .50 won't buy you a cup of coffee  JMO

[FNXPTP]

H Beaulieu you are 100 % correct as to what these boards are for.When NO ONE wants any info Artie spews it and when you ask him for a tidbit, he gets holier than thou.Terrible character flaw but he's been doing it for years.

[trader2day]

Now that is a twist! YS pulls out of cash offer? Hmm so what does this mean? Will YNG make a offer now that they already own 41% of the stock? This story gets more interesting. They have gold production and might just get Taggish lake and start production there also? Could they turn that mining outfit around as well? We will just have to hold our shares to find out the outcome. But it is looking