under the radar

Under the radar has a new (short) report out with YTC as a spec buy.

Why we like it
YTC is on the cusp of successfully
transitioning from an explorer
and developer into a producer,
which should deliver a minimum
of $30m in operating profit for
at least seven years from fiscal
2015. We believe that this is just
the start of what the miner with
operations in the Cobar Basin can
do as a producer of gold, silver,
lead, copper and zinc. A big factor
in its favour is the backing of the
Swiss trading giant Glencore,
which means it doesn’t need
development funding.

On the production side, YTC is
half way through construction
of its mine and mill at its Hera
project. The first gold is due to
be poured in July 2014. It will be
able to produce 50,000 ounces of
gold equivalent for seven years.
There is anticipation that its
other project “Nymagee” – a few
kilometres away – will come up
with some big base metal strikes.
The stock has sold off in the past
week because an announcement
disappointed on this front. But it is
early days on the exploration front.

http://www.google.de/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=8&cad=rja&ved=0CG0QFjAH&url=http%3A%2F%2Fwww.undertheradarreport.com.au%2FLiteratureRetrieve.aspx%3FID%3D152371&ei=foCYUsPdD6O9ygP01oHoCQ&usg=AFQjCNEUdA5mtZxmo-rG7IqOKQIOn04sKQ&bvm=bv.57155469,d.bGQ


(not sure the link works - just google "ytc resources" for last week ...)

Comment: they don't seem to know the difference between Nymagee (existing resource) and Nymagee North - and still consider YTC a buy. Which underlines my point about YTC being seriously undervalued ...