On Friday, Yukon-Nevada Gold Corp. (TSE:YNG), (PINK:YNGFF) stock proved that it needs some lull before the next huge stir.
The weak volume traded and the slight YNG’s pull up by 1.35% on the Toronto Stock Exchange expressed investors’ unwillingness to conquer a new 52-week high.
On the American Pink Sheets market, maybe in support of the above YNGFF pulled 0.51% back.
The shares of Yukon-Nevada Gold Corp. have been in a constant upward move for more than three months now.
This August, the news about the intersected additional strong gold mineralization at the Ketza River Project and the unsolicited take-over bid for the company’s largest shareholder and creditor Tagish Lake Gold Corp. resulted in a skyrocketing action for the shares.
Last month, the released by Yukon-Nevada Gold Corp. excellent results from its ongoing 2010 drilling program at Ketza River added more gold to the company’s shares. At that time, the traded with a heavy volume YNG stock noted a new 52-week high at $0.77 per share. Since then, the deals on YNG stock are for not less than 70% of a dollar.
In unison with the price jump of gold and with the company’s news, the strong upward direction of YNG was kept also in the beginning of this month. Then, Yukon-Nevada Gold Corp. released more positive developments in the Ketza River drilling program. This time, the accustomed to good news investors were not so eager to bid for a new huge share price jump up.[BANNER]
Maybe, they were expecting some news about funds raising, or about a significant increase in the revenues.
The latest financials of Yukon-Nevada Gold Corp. are suggesting that the reported at the end of this June cash and cash equivalents may be insufficient to meet the company’s operational cash needs. On the other side, the reported negative gross operating profit in five consecutive quarters is not able to maintain the operations.
It seems that these days as a result of all mentioned above, investors’ optimism will get cooled and they will look for the fair value of Yukon-Nevada Gold Corp. stock.
