Tin-focused exploration company, YTC Resources Limited has lodged a prospectus with the Australian Securities and Investments Commission to raise Aus$3.5 million through an Initial Public Offering of ordinary shares at A$0.25 per share.

The company, formerly Big Sky Holdings Pty Ltd, was founded in 2004 to acquire and explore tin and gold/copper projects in the world-class mineral belts of New South Wales, Australia.

Through an investment agreement signed in September 2006, the company formed a partnership with the world's largest producer of tin, the Yunnan Tin Company Group Limited of China (Yunnan Group) whereby the Yunnan Group agreed to invest Aus$2.67 million in YTC.

The Yunnan Group has also agreed to provide senior level support to the company. The Yunnan Group chairman will be chairman of YTC. Yunnan Group executive deputy general manager was also appointed to a board position.

Yunnan Group will hold 33% of the issued capital when the company lists on the Australian Stock Exchange.

Yunnan Group, which is also a major producer of other non ferrous metals, is a century-old Chinese industrial enterprise with approximately 30,000 employees in operations throughout Asia, the United States and Germany, producing and selling a variety of 600 specialist metal and chemical products to customers worldwide.

YTC is well poised to capitalise on burgeoning world demand for tin, through its ownership of two of Australia's significant historical tin fields, which have had little to no modern exploration, while current London Metals Exchange (LME) prices for tin are at the highest levels in two decades.

Proceeds from the offer will be used primarily to start immediate drilling programs in the Lachlan and New England Fold Belts in New South Wales, as the company seeks to develop a large scale tin project.

YTC chairman and Yunnan Group chairman Jianming Xiao says: "We have taken great care in selecting YTC as our Australian partner and we are very pleased to be involved with this exciting company. We hope to grow and share in YTC's successes and along the way offer our support, guidance and expertise in tin and other key commodities."