News: YTC Resources' gold project progress , page-5

Them ost important part imo:

"OK, our current cash position is about $19 million. YTC actually owns 100 per cent of the Hera project and 95 per cent of the Nymagee copper deposit. We expect to conclude negotiations on the last five per cent for Nymagee sometime during 2012. So we consider ourselves very well-funded to maintain our current exploration approach. But we will be doing some additional fundraising during the year for the development funding for Hera, and that will be a sort of separate development package. And we’re confident of delivering a very innovative and a very favourable financing package for Hera, leveraging off our existing shareholder base."


I agree that was very telling mtm, probably not a coincidence that Glencore has just made its largest purchase? If YTC finances Hera off holders through discounted SPP and there's not huge support, Glencore can step in and make up the difference + acquire a larger holding off-market? Interesting