Yellowjacket Resouce (YJK-V) to retain project after strategic review
Feb 27, 2013 - News Reources
Yellowjacket Resources Ltd. has provided an update on its internal strategic review of the Yellowjacket gold project.
The Yellowjacket gold project is a large gold exploration property located approximately nine kilometres east of Atlin, B.C., and is accessible by an all-season road. The project holds a British Columbia Mines Act permit for an open-pit gold mine, and on-site 400-ton-per-day mill and concentrator, processing up to 75,000 tons per year. The permit contemplates a seven-to-nine-year mine life from a series of open pits located entirely within an area of disturbed placer workings.
The purpose behind the strategic review was to assess possible mechanisms to derive increased value from its Yellowjacket gold project, as well as explore potential opportunities to deploy the company's existing treasury into oil and gas royalties.
The company received several expressions of interest involving the Yellowjacket gold project during the course of the strategic review. However, after deliberation, the company's board of directors has elected to retain 100-per-cent ownership of the Yellowjacket gold project. This decision was based upon several factors, amongst which were: i) an economic assessment of optimal market conditions to vend or partner an advanced gold exploration project into; ii) consideration of potential cash flows possible from a permitted, low-capital-expenditure mining project; iii) the flexibility of timing around the Yellowjacket gold project given the good-standing nature of its mineral tenures and the company's treasury; and iv) feedback from fellow shareholders indicating a desire to retain exposure to the significant gold exploration potential ascribed to the Yellowjacket gold project. |
