Funds to continue exploration program at the Nymagee Copper deposit
By Melissa Kory
Cleveland, March 24 - YTC Resources Ltd. said that it plans to raise A$25 million via the placement of 44 million ordinary shares.
The shares will be sold at A$0.57 per share, a 14.93% discount from the March 23 closing price of A$0.67.
Hartleys Ltd. is the broker for the offer.
The placement will be completed in two tranches, with 30.6 million shares being issued in tranche one and 13.4 million shares being issued in tranche two, subject to shareholder approval at the May general meeting.
Proceeds will fund the continued aggressive exploration program at the Nymagee Copper deposit.
The mining company is based in Orange, New South Wales.
| Issuer: | YTC Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$25 million
|
| Shares: | 44 million
|
| Price: | A$0.57
|
| Warrants: | No
|
| Manager: | Hartleys Ltd.
|
| Pricing date: | March 24
|
| Stock symbol: | Australia: YTC
|
| Stock price: | A$0.67 at close March 23
|
| Market capitalization: | A$110.02 million
|
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