Yuba Natural OKs new Canadian firm.

The board of directors at Yuba Natural Resources Inc. (YNR), a San Diego based gold dredging company, approved the formation of a new Canadian company, Yuba American Gold Ltd. As part of the company’s formation, Yuba is transferring dredging rights on 6,000 acres of Yuba’s 10,000-acre mining property in the Sacramento River delta to the new company.

An offering of Yuba American securities in the Canadian stock market is “contemplated,” Yuba said in a release.