TRY 0.00% 3.0¢ troy resources limited

Golden favourites

  1. 291 Posts.
    http://www.theaustralian.com.au/bus...131093525?nk=d54c9f181e664db8a2c93d2d53bc19ac

    Golden favourites

    FOR those who believe the bullion price has seen the worst, Argonaut Securities director Troy Irvin has identified the gold stocks operating on the best margins relative to the Australian dollar-denominated gold price.
    Irvin uses a “blended all-in sustaining margin”, which takes into account not just direct per-ounce production costs but other imposts such as head office expenses. Assuming a gold spot price of about $1330 an ounce (gold is currently trading at about $1381), the most profitable are West Australian and South American producer Troy Resources (TRY, 49c), the Turkish-focused Alacer Gold (AQG, $2.29) and NZ’s OceanaGold (OGC, $2.52), with margins close to $400 an ounce.
    At the other end, West African producer Perseus (PRU, 31c) operates on a wafer-thin $25 an ounce. Resolute Mining (RSG, 26c) and Evolution Mining (EVN, 52c) also look uncomfortable at under $150/oz.
    Troy Resources tops Irvin’s list of favourites. While Northern Star (NST, $1.20) is not exactly top of the Wazir on all-in margins, the acquisitive WA miner gets the nod for “outstanding cash generation’’ and sector-best liquidity. Dual WA mine operator Saracen Mining (SAR, 25c) also features.
 
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