"....mostly because the largest shareholder chose to abstain rather than vote against the funding proposal. If I had to read between the lines that abstention is as good as a "yes" vote in my mind" I hope you are right. After all, Chinese tend to look at the long term, and in the long term, YTC should be able to accomodate them with access to lots of tin. Which is where YTG's core interest lies ... OTOH, since the vote went by a show of hands, they might simply have seen the writing at the wall and decided not to be embarrassed. Still, I'm hopeful ...
"Not sure why the stock price hasnt reacted yet but things have never looked better for this company in my humble opinion" The stupidity of Mr. Market never stops to amaze me. How dense can one be? Hopefully, our CEO will point out the excellent onvestment case this week and we'll see some new heavyweigths coming in.
"I think its only a matter of time and now we have the $$ to go find it." Um, we already know where to drill. Cocu and Federation ...
"NEW GOLD TARGET 12KM SOUTH OF HERA Ground investigation of an untested gravity high approximately 12km south of Hera identified mineralised outcrops with strong rock chip results up to 2.5g/t Au and 0.1% Pb. A subsequent soil survey delineated a coherent north-west trending gold anomaly over 400m at >10ppb Au with peak values at 50ppb Au (refer figure below). The gold-in-soil values are higher than the response over the Hera deposit and the gold anomaly is coincident with the gravity high. This prospect has been named Federation and will be prioritised for drill testing in 2013."
"NEW COPPER-COBALT TARGET AT NYMAGEE Reconnaissance mapping at Nymagee re-discovered the historic Queens Cross mine shaft located approximately 350m north east of the Nymagee copper mine. The Queens Cross mine is recorded as an historic gold mine however rock chip sampling of outcrop and mullock recorded strong copper values (to 0.8% Cu) and very high grade cobalt (to 1.5% Co). The Queens Cross mine may lie on a NW trending fault structure which appears to control the main Nymagee orebody. Further follow up exploration including drill testing will be completed in early 2013."
Guess we had to conserve cash until the deal was finalized, but I think we should get some results soon and I'm sure the are sending out lots more drill rigs asap ...
YTC Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
