YTC Resources Limited (Lion 3.9%)
Summary
| Lion shareholding: | 10.2 million |
| Total investment by Lion: | $4.0 million @ $0.39 cents per share average investment price |
| Date of initial investment: | November 2010 |
| ASX Code: | YTC |
| Area of activity: | Australia – Gold |
| Website: | www.ytcresources.com |
Company
YTC Resources Limited is based in Orange, in central New South Wales, close to its projects and exploration infrastructure.
In June 2009, YTC acquired the Hera Gold Project and an 80% interest in the adjacent Nymagee Joint Venture which are located approximately 100 km south-east of the mining town of Cobar in central NSW and include the undeveloped Hera gold-base metal deposit.
YTC is progressing a Definitive Feasibility Study (DFS) program on the Hera Deposit and is also progressing an aggressive exploration campaign on the highly prospective tenement package surrounding the Hera Deposit. This includes the historic Nymagee Copper Mine, and the 4.5km corridor between Hera and Nymagee and the 4.5 km corridor between Hera and Nymagee.