we just ain't reached the tipping point, page-7

Glencore gets to put up a representative on the BOD now. This company doesn't need an 8 member BOD so I would assume someone will be leaving, doubt there will be any major friction there between Glencore and YTG.

In terms of SP I think the company has a couple of things the market will be looking for:

1) Now that we are in the construction phase of Hera it will be important that things stay on schedule and within budget. In this market delays and cost overruns are the death knell for a SP. Luckily, thanks to BHP's program of driving down costs we should gain a little bit of pricing power with the various contractors we will hire. Additionally, our new additions to the BOD have very good experience in mine construction.

2) I have said it before but the market is rewarding projects with high grades and scale (ultimately leading to lower mining costs giving cushion to weather lower commodity prices). I think YTC needs to show that for both Hera and Nymagee. Right now Hera only has a 7 year mine life so adding reserves to extend that will be very beneficial to the SP (I think we can all agree that Hera mine life extension is an eventual given.

Additionally, while Nymagee has shown great promise to become another CSA it has yet to hit any big high grade intercepts with its deeper drilling. Hopefully, the down time has allowed for some good analysis of the DHEM and we have some very promising targets to go after. All you have to do is look at how the market has rewarded PEX for their results to know management can certainly add to shareholder value by going after the high grade Cu.

I would like to see them put out an announcement on the drilling schedule as well as their intended targets ASAP. Shareholders have been short of information/action on the ground as a result of the long financing approval process.