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YTC Resources non-executive director exercises options early

YTC Resources (ASX: YTC) non-executive director Robin Chambers has exercised 500,000 options at A$0.25 each earlier than the expiry date of 4 May 2012.

Chambers acquired the extra shares for a consideration of $125,000, upping his stake in the company to 860,003 shares.

At the current share price of $0.465, this values his shareholding at nearly $400,000.

YTC is in an interesting position, particularly at its 90% owned Nymagee Copper Deposit in the Cobar Basin, New South Wales where it has intersected more high-grade zones of copper in the first two drill holes of a deeper drilling program.

Results of the deeper drilling have confirmed broad copper mineralisation extending to a vertical depth of over 500 metres and with the system remaining open at depth, YTC is confident the Nymagee mineralisation will continue to grow in the manner of similar Cobar type ore systems.