TRY 3.13% 15.5¢ troy resources limited

ann: director buying at 80c yesterday

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    PERTH, Western Australia: Troy Resources NL (“Troy”) (TSX: TRY, ASX: TRY)
    Troy Resources’ CEO, Mr Paul Benson acquired an additional 60,000 Troy shares as an “on market” purchase yesterday.
    Commenting Paul Benson said, “This is simply a reflection of the fact that in my opinion Troy is trading at a significant discount and offers extraordinary value. Troy currently has approximately 80 cents per share cash, thus at these levels you are essentially getting the Andorinhas gold mine, the Sandstone gold operation, the Andorinhas iron ore reserve and the Cobar gold processing plant (currently in storage) - all at no cost.”
    “At the moment equity prices are reflecting the fact that there are simply more sellers than buyers. Unfortunately some people are in the position where they are forced to liquidate their investments. Eventually however, share prices will reflect underlying valuations. Troy is trading below cash backing and with operating gold mines, no debt and no hedging, I am happy to put my money where my mouth is”
    For further information please contact:
    Mr Paul Benson
    Chief Executive Officer
    T: (618) 9481 1277
    E: [email protected]
    Information of a scientific or technical nature in this report was prepared under the supervision of Peter J. Doyle, Vice President Exploration and Business Development of Troy, a “qualified person” under National Instrument 43-101 – “Standards of Disclosure for Mineral Projects”, a member of the Australasian Institute of Mining and Metallurgy. Mr. Doyle has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration, and to the activity he is undertaking, to qualify as a “competent person” as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Doyle has reviewed and approved the information contained in this report. For further information regarding the Sandstone project, including a description of Troy’s quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Sandstone project please refer to the technical report entitled Troy Resources NL: Sandstone Gold project, Mid West Region Western Australia” dated June 2007, which is available under the Company’s profile at
    This report contains forward-looking statements. These forward-looking statements reflect management’s current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, performance, or achievements to differ materially from the results expressed or implied in the forward looking statements. Such factors include, among others, future prices of gold, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in ore grade or recovery rates, plant and/or equipment failure, delays in obtaining governmental approvals or in the commencement of operations.
    For purposes of Clause 3.4(e) in Canadian Instrument 43-101, the company warrants that Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
    Registered Office: C/- Hayes Knight Melbourne, Level 6, 31 Queen Street, Melbourne Victoria 3000
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Mkt cap ! $101.1M
Open High Low Value Volume
15.0¢ 15.5¢ 15.0¢ $350.0K 2.292M

Buyers (Bids)

No. Vol. Price($)
11 619171 15.0¢

Sellers (Offers)

Price($) Vol. No.
15.5¢ 226482 8
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Last trade - 13.45pm 20/10/2020 (20 minute delay) ?
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