Our updated valuation for YTC is now 87cps (up from 51cps, which
previously assumed an equity raise to fund development) and our 12-month
price target is now 88cps (up from 59cps). We continue to recommend YTC
as a Buy and expect that the Company will be significantly re-rated.
http://www.ytcresources.com/i/documents/5/11/Hartleys%20Research%20Note%2023%20November%202012.pdf
