Tin-focussed explorer YTC Resources had its shares traded on the Australian Stock Exchange for the first time today, following the early closure of an over-subscribed A$3.5 million initial public offering.
Following the issue of 14 million new shares at A$0.25 per share, the company’s share price at the end of the first day of trading rose to A$0.77, giving it a market capitalisation on 41 million shares on issue of A$32 million.
China’s Yunnan Tin Company has a 33% stake in YTC Resources.
Drilling at YTCs Torrington (tin) and Kadungle (gold-copper) projects in New South Wales is due to commence later this month.
YTC is the second tin exploration company to launch on the ASX in recent weeks, following Kasbah Resources, which was admitted to the exchange on 26 April.
