TRY 0.00% 11.0¢ troy resources limited

Ann: Notice of General Meeting/Proxy Form, page-2

  1. 1,104 Posts.
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    Seems we now know who is responsible for the share price. They sought support from shareholders and once they had the 5% they sold all of their shares?!? They do not believe the book value of the Guyanese assets have been worth 78m at CY end? Well, Troy's announcement does not mention it, but the mining asset itself was valued at 16m, not 78m. That is inclusive of plant, inventories etc., pretty low-ball I would say.

    I wonder if it is wise to have section 249d when it is so easily abused.

    Also another wrong move by Troy. They are seeking ratification of shares in order to have spare capacity for the remote chance of a major mishap. Firstly it is a very remote possibility especially now after having a full cut-back done which rectifies a lot at the pit-wall. Secondly if a major mishap happens Troy won't be able to raise cash except from one source: M&G and only if they can demonstrate there was no negligence involved. They should have sought ratification earlier instead of compromising the moral high ground position they else would have had. I will go along with the move as it recovers some of the costs of the meetings for a reasonable purpose.

    Also do not trust anybody. Interesting to see they are also attacking Kaczmarek. I advise you to do what I have done a long time ago: just check remuneration at previous employers and compare that with the current remuneration. Really, it is a very clear case and Gerry deserves our full support. Tells you something when someone attacks him due to dubious reasons, i.e. company politics.
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