nymagee drilling update , page-5

Yeah.. Was actually going to buy HOR in Dec but gave it a miss... Whoops


There's not an economically feasible development for HOR yet but there is for YTC - Hera looked to be economical BEFORE Nymagee drilling began... And Nymagee is now the larger of the two.

The only thing I think could be distracting investors is the exposure to gold (which is only half the development), and the ownership scenario (doesn't bother me slightly but its biggest shareholders are overseas interests).

Once these guys finalise the JORC and finalise DFS brokers will start to sit up and take notice.


Another thing from the quarterly I hadn't known before:

Sale of New England Tin Projects to Taronga Mines

On the 19th October, YTC announced it had reached agreement to sell its New England Tin Projects to Taronga Mines Limited (TML), a tin company which will shortly be seeking an ASX listing.
The all-script deal sees the beneficial combination of TML?s Taronga Deposit, currently the largest undeveloped tin deposit on mainland Australia, with YTC?s adjoining tenement holding. YTC?s tenement holding contains a number of strong exploration targets for Taronga style tin mineralisation.
The agreement will see YTC issued with 11 million TML shares and 5.5 million options to acquire shares in TML, representing 25% of the issued shares and 50% of the issued options in TML prior to Taronga?s IPO capital raising.
Through this deal YTC shareholders will gain stronger exposure to a major undeveloped tin deposit and the adjoining exploration upside. YTC Shareholders will also be given a priority entitlement to subscribe for up to a total of $2 million in the proposed TML IPO and YTC will also have the right to nominate one director to the TML board.

A prospective Tin IPO could do very very well given the current state of Tin (all time highs?)