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YNG Completes Foward Sale of Gold w/Deutsche Bank 0 comments
Yukon Nevada Gold is fully funded to winterize their plant and bring it back into production. YNG is trading at 1.5x 2013 EBITDA excluding one of three permited roasters in Nevada worth over $1.5bln.
VANCOUVER, Aug. 3, 2011 /PRNewswire/ - Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) (the "Company") is pleased to announce that it is currently negotiating a Forward Gold Purchase Agreement (the "Agreement") with Deutsche Bank AG, London Branch ("Deutsche Bank"), a leading global provider of financial solutions. Subject to satisfaction of all closing conditions and internal approval requirements (including Deutsche Bank's credit committee), Deutsche Bank will fund a US$120 million prepaid gold forward facility (the "Gold Facility") to Queenstake Resources USA, Inc.
("Queenstake"), a subsidiary of the Company.
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