IKN

Thy sin’s not accidental

Yukon Nevada (YNG.to): If this was a strong quarter, I’d hate to see a bad one

Remember this little mining earnings rule of thumb from last week’s post on GRS?

If you can’t easily find the net earnings number in a mining company’s quarterly earnings NR, you can  safely bet said quarter was a crockacrap. 

Well let’s check out the NR just published by Yukon Nevada (YNG.to) that runs the screaming headline  

“YUKON-NEVADA GOLD CORP. SHOWS STRONG THIRD QUARTER RESULTS”.

We open…..we look…..we check……plenty about ounces produced….talk about a “positive gross margin”, whatever that may mean……bits about what they predict as a rosy future……..but (yep you guessed it) precisely diddlysquat about the actual financial results, because for those you have to go to the regulatory filings where you suddenly discover that….

“The Company had a net loss of $17.9 million in the third quarter of 2010 compared to $11.8 million in the third quarter of 2009.”

 Mon Dieu! Quel surprise! So let’s leave it to Elmer Fudd this time:

(thanks olaf)

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