Well, I think we still need the final mining lease and the shareholder approval on the Glencore deal. Once they are in, we will really take off (maybe helped by new drill results, too). Until then, I don't think we'll go above 0,40 cents - unless a big guy (like Glencore) decides to seriously expand its position.
But then, I suck at trading, so feel free to ignore the above ...
All I know is that buying YTC at these levels is a really good investment. Even the US going over the fiscal cliff (unlikely imO) shouldn't impact us too much:
- our first project to be built (Hera) is mostly gold, and if the US fall off the cliff, they will have to print more money afterwards to get going again ... Basically I think our current SP is covered by Hera alone. Especially if we hedge some gold above 1700 once the mining lease is in.
- our biggest project (Nymagee) is mostly copper, so if the US avoids the cliff, their recovery will take off, China will profit from that, too, and copper prices will head above $4 again.
Can you say win - win?
YTC Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
