financing is here 100% to glencore, page-8

My Understanding:

Generally a thumbs up on the financing as Glencore are the owner & operator of the CSA Copper mine which is also located in the Cobar district (not far from Nymagee). Cobar is known for deep deposits and long mine life. Very long in fact and way past the current depth YTC have explored so far. I would suggest the depth is far greater than we realise and worth bucket loads. Hence Glencore interest. Interesting also that they will be on the steering committee to drive this further. YTC has a lot more going for it than PEX and KBL at the moment I would think.

Since the financing would appear friendly at this stage, it would appear Glencore are in this for the longhaul, perhaps blocking the chinese some some extent. So what about the Chinese? My guess their offer was less than Glencore's and perhaps they wanted cheaper offtake. Be interesting to see if they dump shares, or take a greater stake with a view to takeover.

Glencore have secured base metal offtake which is excellent. At what price though is unknown. I think it will be in line with normal market prices less the processing costs. Gold rights belong to YTC.

amok