Glencore owns almost 10% and has provided $150mm in financing....... To my knowledge YTG owns around 13% at this stage and may control up to another 4%. I may be wrong but I think I am pretty close.
I can appreciate that YTG was the seed investor during very difficult times which was the beginning of YTC but they have not been very proactive since the beginning have they? To my knowledge they have not continued to invest at the various capital raisings over the years and they did not put up a competitive financing package which probably cost us at least 6 months delay in moving forward with HERA.
If I have to look at things at face value it seems to me that Glencore is the one that has shown strong commitment to the future of the company while YTG has pulled back....shouldnt the composition of the BOD reflect this or am I missing something?
YTC Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held