TRY 0.00% 3.0¢ troy resources limited

Hi All,IMO! nevcop ,15 years is a long time ! Profitable mines...

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    Hi All,IMO! nevcop ,15 years is a long time ! Profitable mines can be worked out in a lot shorter period than that so it isn't really surprising that the SP moves around as the current mines are depleted and as the commodity,in this case the GP, rises and falls.. The company mines a deposit,hopefully at a profit, and as the mine comes to an end, hopefully repeats the process elsewhere.. TRY seem to have the fortunate knack of doing this In the current unforgiving market it is ,however, not surprising that the SP is down , as are the SPs of all the goldies. Unless the GP falls through the floor Karouni should be,at worst, a profitable but relatively small open mine at an attractive grade with a 3 year life. TRF have been committed to hedge about 100,000 ozs of gold at US$1237/oz., insurance for the lender. In the current market that looks to be a fair deal as does the 3 year call options @ 80c. Clearly TRY are hopeful of discovering additional gold in the vicinity before the open cut is mined out. Looks like they expect their Guyanese operation to morph into their prime investment, not unexpected as the other S.A assets are fast approaching their use-by-date. Underground mining of Karouni is a bonus particularly if the GP rises, no guarantee that will happen any time soon though. The Guyana rain forest is pretty wet and there's an awful lot of water about.and I suspect that once the forest canopy is removed things can get a trifle boggy . However from my experience of spending a couple of months under canvas in the wet season I reckon it still beats Northern Ontario with the infernal black fly or Hudson's Bay with the summer mosquitoes ! What's TRY worth?Currently 40 cents per share. but if Karouni grows rather more than that IMO! TRY looks to be a fair punt. Merry Xmas and good punting to all!
 
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