YTC raises $25 Million

YTC Resources Limited today announced that it has resolved to raise approximately $25 million before costs, through the crusher machine introductionplacement of 44 million ordinary shares at $0.57 per share. The capital raising received strong support from a number of the company’s institutional shareholders and has also allowed the introduction of a number of new international and domestic institutional investors to the YTC register.

The raising provides YTC with continued funding to aggressively evaluate the expanding copper discovery at Nymagee and a strong financial capability to advance the integrated Hera-Nymagee Project. YTC’s CEO, Rimas Kairaitis said, “With the Nymagee copper discovery rapidly unfolding into a major discovery, YTC are very pleased to secure strong support for this capital raising, enabling the Company to continue its aggressive exploration programme including substantial shallow and deep drilling. The funding also places the company in a very strong financial position as it moves to advance the integrated Hera-Nymagee Project”