B.Y.G. Announces Continuing Profitability at Mt. Nansen Mine and Mill.WHITEHORSE, Yukon--(BUSINESS WIRE)--Feb. 14, 1997--B.Y.G. Natural Resources Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :BYG BYG Baptist Youth Group (BC, Canada) BYG Binnerri Youth Group (Dallas, Tx) ) today reported that its newly commissioned production facility at Mt. Nansen, Yukon, generated an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of more than $800,000 for the month of January, and operating costs for January were US$162 per oz of gold -- well below budget. The Company had reported previously that operating profit for December 1996 was over $700,000 for the first full month of production. In January, the Company produced 2,700 troy oz of gold and 13,000 troy oz of silver. Ore throughput improved to 450 tonnes per day which is 64 percent of design capacity. Recoveries averaged 88 percent and the head grade averaged 0.235 oz equivalent gold per tonne. The Company reported last month that achieving design capacity has been affected by the clay nature of the surface ores. Engineering and sourcing of an SAG (semi-autogenous grind) mill to facilitate processing these reserves has been conducted. The decreased costs that will result from the SAG mill installation, will also serve to boost production by allowing economic processing of even lower-grade ores. This should result in the Company surpassing its 50,000 oz production scheduled for the 1997 calendar year. B.Y.G. owns controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in a subsidiary, Trumpeter Yukon Gold Inc. (ASE: TYG TYG Temple Youth Group TYG There You Go TYG Tong Yang Group (Asia) TYG Thank You Girl (song) TYG the younger generation ), which is an exploration company whose principal mandate is to finance the exploration and development of the properties of Omni Resources Inc. (VSE See DOS/VSE. VSE - Virtual Storage Extended : ORI). Omni and Trumpeter announced yesterday significant ore grade intercepts from the three most recent holes drilled at the Goddell Shear property. Trumpeter also shares ownership in the Tawa Tawa may refer to:
Recently, Trumpeter entered into an agreement with B.Y.G. to explore the Aurchem ground near B.Y.G.'s Mt. Nansen mine and mill complex. Ultimately Trumpeter can earn a 50 percent-interest in the property by spending $650,000 on Aurchem exploration. Drilling is currently underway. B.Y.G. Natural Resources Inc. has a 100 percent-interest in the Mt. Nansen mine and milling complex in the Yukon, as well as direct and indirect interest in exploration projects associated with the Mt. Nansen Trend. Shares of B.Y.G. trade on the Toronto and Alberta Stock Exchanges under the symbol BYG; U.S. S.E.C. Exemption: 12g3- 2(b)no.82-2038. CONTACT: B.Y.G. Natural Resources Inc. J. Malcolm Slack, 514/942-3181 Whitehorse Office, 403/668-8060 or Hume, Kieran Inc. Cathy Hume, 416/868-1079 Jon W. Kieran, 416/868-1079 http://www.juniormine.on.ca/~pslack/ byg@juniormine.on.ca |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion