Skipped diynones, efficiently prepared from biomass -derived ethyl lactate, undergo a tandem hydra-tionoxacyclization reaction under gold(I)-catalysis. Reaction conditions have been developed for a switchable process that allows selective access to 4-pyrones or 3(2H)-furanones from the same starting diynones. Further application of this methodology in the total synthesis of polyporapyranone B was demonstrated.