I believe YNG will settle and soon. :)
Why won't they? If you read the law suit you will see the details line by line. It's so clear even to an outsider that YNG was intentionally trying to be a crook and violate the terms. Why won't it settle now and proceed with the agreement it had with MYNG and maybe some fine and few $ millions in damage instead of waiting and fighting in court and risk losing $40 million to $120 million? If the court tells YNG to pay now, they could lose the whole company to MYNG.
Also they have another lawsuit going about ex-employees for over $5 million. This will be all settled as well. They have to to move forward. $5 million plus from 400 employees, you think the state will let it goes? The court could just order YNG to stop production even it re-start. They can't let that happen.
As for $10 million for the Gold Bar mill, if this deal doesn't go through there will be another offer. My question is why selling at $10 million and then you are out of a property although you will still be operating? How much can you get per year from operating instead of holding on to the property that produce gold while gold price goes up?
Financial gurus believe that the new reserve currency will be a basket of currencies and gold will account for more than 50%. Gold is garantee to go up against USD if that is to happen, and in a big way.
We can see gold pops to $3000 or $5000 and stay around there when USD is no longer a reserve currency and gold is used to create the new reserve currency. Let hold it till that pop and then sell because gold price would be rather stable from that point on unless US keeps printing money. And it might do just that to pay off debt and reset.
How soon do I think USD to lose its world reserve status? By the end of 2011 the earliest if no war with Iran. With war, as early as first qtr of 2010 as other nations have enough of US bully and cut off the its war funding.
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