SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Wheaton River Minerals (WRM Toronto)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Ray Osborne who wrote (33)3/25/1997 4:02:00 PM
From: M5PRO   of 350
 
Ray,

Let's take a look at this deal a little closer. It's quite understandable that the market would look at this deal as a bad move for WRM but if you take their reasons for selling control of YGC into account it makes a lot of sense. WRM sold their interest in YGC so they could focus their attention solely on the Golden Bear mine which is held by North American Metals, an 82% owned subsidiary of WRM. Back in September 1994 WRM and NAM had to shut down operations at the Golden Bear mine due to massive flooding. NAM owes WRM approximately 80 million dollars and the only way to get that money back is to bring the Golden Bear mine back to production as quick as possible.(my opinion) WRM will still hold 1.2 million shares of YGC as they know the importance of this company!
Now for YGC. I don't believe their situation as a company has changed except for the fact that their major shareholder is now BYG Natural Resources who will elect their own directors but I do feel that YGC shareholders will benefit the most from this transaction!
BYG has encountered problems with clay type surface ores and when fed through the mill they clog up the crushing unit causing the mill to be repeatedly stopped and started which in turn slows down the process. ( time is money ) The problem will be corrected with the addition of a SAG mill.( Semi- Autogenous grind mill )
I have to disagree with you though about the Ketza deposits. With proven reserves already and an opportunity to increase these reserves this would add more to BYGs overall reserves! YGC is a very key element to both BYG and WRM !!!!!!!!

Ray, Can you explain one thing that you touched on in your third paragraph? What would not be the first time for BYG and what trick did they pull with Redell?????

C-YA

Matt
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News