Business
Yukon-Nevada Gold Corp. Announces Year End Results for 2011
VANCOUVER, March 30, 2012 /CNW/ - Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exch...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, March 30, 2012 /CNW/ - Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) today announced the financial and operating results for the year ended\n December 31, 2011. This information should be read in conjunction with\n the Company's audited annual consolidated financial statements and the\n related notes contained therein, which have been prepared in accordance\n with International Financial Reporting Standards (\"GAAP\" or \"IFRS\"), as\n issued by the International Accounting Standards Board (\"IASB\"); and,\n the corresponding Management's Discussion and Analysis (''MD&A'').  The\n Company previously prepared its annual consolidated financial\n statements in accordance with Canadian generally accepted accounting\n principles (\"Canadian GAAP\"). A reconciliation of the previously\n disclosed comparative periods' financial statements prepared in\n accordance with Canadian GAAP to IFRS is set out in Note 27 to the\n consolidated financial statements for the year ended December 31, 2011.\n The Company's 2010 comparatives in the MD&A have restated and presented\n in accordance with IFRS.  As the date of transition to IFRS was January\n 1, 2010, the 2009 comparative information included in the MD&A have not\n been restated to be in accordance with IFRS. All dollar amounts are\n expressed in United States Dollars unless otherwise specified.\n\n\nHighlights for the period ended December 31, 2011 include:\n\n\nThe Jerritt Canyon Mill shipped 13,864 ounces of gold during the quarter\n from purchased ore, stockpiles and mining operations, compared with\n 22,777 ounces of gold in 2010.  Total ounces produced for the quarter\n declined significantly compared with the fourth quarter of 2010\n primarily as a result of the Company processing higher grade (and\n higher cost) Newmont ore in the fourth quarter of 2010 and higher than\n normal down time as a result of continued delays in the annual shutdown\n (originally scheduled for June of 2011) as the site waited for key\n components required for completing the installation of the ore dryer. \n Jerritt Canyon shipped a total of 67,748 ounces from stockpiles,\n purchased ore, and mining operations for the year ended December 31,\n 2011 compared with 65,104 ounces for the year ended December 31, 2010.\n\nThe Company took ...