Kidman Resources has raised USD 1.46 million placing 6.38 million shares at USD 0.23 per share via a private placement enabling it to follow up a potentially significant copper discovery in New South Wales.

Kidman made two copper discoveries in the Lachlan Fold Belt, NSW since listing in 2011 which while under the radar are potentially significant. One at Blind Calf where multiple high grade copper intercepts encountered included 27 meters at 6.1% copper from just 24 meters.

Kidman is using an electrical method used to identify deep chargeable IP targets related to sulphides. A method that has proven successful at other major Cobar Deposits. With the funding, Kidman will fast-track target generation for 2012 drilling.

There are early stage similarities between Blind Calf and CSA and YTC's Nymagee project. Blind Calf has multiple lenses identified with mineralization open at depth and there are major targets below existing discoveries.

On the strength of YTC's success to date, Kidman is one to watch closely in 2012, particularly given its current market capitalization and low issued capital of 42.5 million shares.

(Sourced from www.proactiveinvestors.com.au)