# TRY - Troy Resources



## MarcusDZ (19 November 2005)

Hi,
I have been looking for around for a gold stock and Troy Resources has caught my eye. Currently at $2.80, I think this stock has room to move if Gold pushes through the $500 mark.

Anyone holding? Any opinions?


----------



## Dutchy3 (18 September 2006)

Can go past this one ... will it present an opportunity?

2.65 ish to 3.25 ish in (what) 3 - 4 months (at the outside)?


----------



## Dutchy3 (27 October 2006)

This cant last ..... will either fail miserably from this point or be a performer ... either way it will be quick and soon.


----------



## Dutchy3 (30 October 2006)

Doing it ... post chart soon


----------



## Dutchy3 (30 October 2006)

Consider the price action today as a continuation of the volume signal from last week. This is what I consider a classic falling wedge breakout. The 3.40 area should be considered a target profit zone


----------



## Dutchy3 (30 October 2006)

Chart


----------



## Dutchy3 (4 November 2006)

At the risk of blowing sunbeams up my own ars# again this one is behaving pretty much as I expected ... 2.55 ish is still a possibility while it works out exactly why it had to react the way it did last week. Else it held up rather well after the reaction day so all looks good for the position. Could only get 30% margin on it though so the leverage is not that exciting ....


----------



## purehell (4 November 2006)

the company needs to do a JV or aquire more properties to move that stock back up which im sure will happen in due time.


----------



## Dutchy3 (5 November 2006)

Hi purehell

Have you any info? Perhaps regarding why the volume spike last week (who bought ... who sold) and the price move ... I'm a little perplexed as to why this also held the breakout at the end of the week ... still this week might see it sold back down


----------



## purehell (6 November 2006)

well the reality is they had some good grounds but to much anymore so i hear they are in the process of trying to talk with some other bigger and more valued companies who hold ALOT better ground to try and maybe get access to some land to do some activities.

If they dont they will have nothing and be left in the dark


----------



## hangseng (10 April 2007)

purehell said:


> well the reality is they had some good grounds but to much anymore so i hear they are in the process of trying to talk with some other bigger and more valued companies who hold ALOT better ground to try and maybe get access to some land to do some activities.
> 
> If they dont they will have nothing and be left in the dark




I would not be surprised to learn that TRY and AAR may be going to do something together, especially with John Jones on the board of both companies.

AAR is on the verge of the PFS completion on Koongie Park and has excellent cash holdings and more to come out of Mandilla. Mandilla is also indicated in AAR reports as having the possibility of further extensions/expansion. AAR market cap is at only $27m so it is an attractive proposition.

Why would TRY raise so much capital when they already have so much capital readily on hand? Between TRY and AAR they seemingly could develop Koongie Park easily. 

Am I off the mark or is there a distinct possibility of something coming out of this shortly?


----------



## Dutchy3 (10 April 2007)

Ahh .... interesting.

and someone knew about this back in Oct 06 ...

so much for a level playing field


----------



## hangseng (11 April 2007)

Dutchy3 said:


> Ahh .... interesting.
> 
> and someone knew about this back in Oct 06 ...
> 
> so much for a level playing field




If there is any basis to this, where would you see this heading? My view is that this would seemingly be a friendly takeover of AAR or for TRY taking a large position in AAR. Thoughts? Why would you say that someone knew something in Oct 06?

In my view it would clearly be positive for both the TRY and AAR respective sp's. 

With so much cash surely TRY wil be making a move on something soon.


----------



## Dutchy3 (11 April 2007)

October 06 is when, from my TA perspective, this stock signalled that something was afoot ... I use TA patterns/signals to alert me to stocks then FA to satisfy myself that the stock is robust etc etc ...

My TA signal was months ahead of any formal news/announcements .... which is typical ... so someone knew, or thought they knew, the inside line on this one ....


----------



## rico01 (3 August 2007)

31 July 2007  
 this company  must be signifigantly undervalued with cash and equivalents of 97 million and only 57 million shares on issue that =$1.70/share and it's trading at $2.60
TROY ANNOUNCES INITIAL RESERVE AT ANDORINHAS AND INCREASES GROUP GOLD RESOURCES TO 1.1Moz
HIGHLIGHTS

An initial Reserve of 255,980oz gold has been announced for Troy’s 100% controlled Andorinhas Project in Brazil.

Group gold Resources have increased to 1.1Moz with the addition of 435,000oz from the Andorinhas Project.

Drilling has confirmed the grade and continuity of gold mineralisation within the open pit mineable resource model at Lagoa Seca and identifies potential extensions along strike and down-plunge with significant intersections including 31m @10.9g/t, 6m @ 11.8g/t, 28m @ 4.7g/t and 25m @ 4.24g/t. These drill results were not used in the above Ore Resource and Reserve totals.

Site clearing and initial civil works progressing at the Andorinhas Project and is on track for a January 2008 start-up.

Attributable gold production for the June Quarter of 26,990oz at a cash operating cost of A$376/oz and delivering annual attributable production, well ahead of target, of 105,723oz at A$330/oz.

Troy posted a record annual gold revenue of A$91.8 million and now has total cash and equivalents of A$96.8 million.
Troy Resources NL (ASX:TRY) has significantly increased its group gold Reserves by announcing an initial Reserve of 1,227,200t @ 6.5g/t for 255,980oz at its 100% controlled Andorinhas Project in Para State, Brazil.
An initial gold Resource estimate of 3,997,000t @ 3.4g/t for 435,000oz has been calculated at Andorinhas which has increased the Group’s total gold Resources to a record 1.1Moz.


----------



## Enoch (3 August 2007)

Rico01

I agree with you on this one.

You however forgot one important point though.

The rock chip samples at the Gutain Davaa JV Project (Troy earning 80%) are staggerring 18.4 g/t, 250.5 g/t 441 g/t and 1753 g/t gold.

The proof however will come when they drill which I think is scheduled for October.

The other aspect is we know they can bring mines into production and generate profits. They have done this with five mines so far.

To many Junior miners get themselves into troble through debt and hedging stragies.

Croesus, BMA, Bendigo, Sons of Gwalia, Gleneagle immediately spring to mind.

Happy Investing
Enoch


----------



## So_Cynical (18 November 2007)

I know your not supposed to get emotionally attached to shares.....but

I love Troy Resources

Issued Capital: 60,374,719 ordinary shares
Record after tax profit of $20.1 million for 2006/07 year
Record dividend of 7.5 cents per share fully franked declared
1:25 Bonus Issue 
Annual gold production of 105,723 ounces (2006: 110,263 ounces)

Operations in Australia and Brazil
Exploration in Aust, Brazil, Mongolia and Finland 
New Brazilian mine in production early 08 :dance:


----------



## So_Cynical (27 November 2007)

GOLD producer Troy Resources has intercepted more high gold grades at its Gutain Davaa project in Mongolia.

The third phase of drilling from September and October produced high grade gold assays with best results of 
5m at 7.45 grams per tonne from 50m, including 2m at 10.51gpt from 62, 
and 6m at 7.93gpt from 41m, including 2m at 23.22gpt from 42m.

 Thats some good gold..


----------



## So_Cynical (7 December 2007)

Troy gets more Ground...right next door.

Troy Resources NL (“Troy”), through its Brazilian subsidiary Reinarda MineraÃ§ao Ltda (“RML”), has signed an exploration Joint Venture Earn-in and Option Agreement with Horizonte Minerals plc (“HM”) (AIM Listed) for the exploration of the TangarÃ¡ Project located about 20km north - northwest of Troy’s Andorinhas Project in Para State in Brazil.

The TangarÃ¡ Project consists of seven tenements totalling 37,662ha and, when combined with Troy’s existing exploration ground in the Andorinhas area, increases Troy’s land position by 47% to a total of 116,268ha in the 
Rio Maria Greenstone Belt.

The project has great potential to delineate gold resources within a short transport distance from Troy’s milling facility which is being constructed at Andorinhas approximately 20 kms away”.

http://www.try.com.au/ASX/pdf/ASX071207.pdf


----------



## elnico50 (10 December 2007)

Good news just keeps coming with this company.

TSX listing has been approved. P/E is ridiculously low, others on here have already mentioned the fact that they are unhedged. Liquidity has been a bit of an issue in the past but with the TSX listing maybe this will change.

I hold for the long term


----------



## So_Cynical (14 January 2008)

Another great day for TRY - Troy Resources today...intra day high of $3.95
and a close of $3.88..very close or at all time highs.

TSX listing just around the corner and POG setting new records almost everyday.


----------



## elnico50 (21 February 2008)

Must be the loss posted in the quarterly that is pushing the price down....

Buyers were just about non existent today, even with the gold price surge.


----------



## So_Cynical (21 February 2008)

Troys actually not producing much at the moment...in transition to the new
Andorinhas mine...should be just about ready to start milling about now.

Ill top up tomorrow.

Just noticed Troys got a shiny new web site...nice.

http://www.try.com.au/


----------



## Bruton (14 March 2008)

Gold spot price nearing the magical $1,000.  Any updates on this puppy? Looks like a compelling story.


----------



## elnico50 (14 March 2008)

In the words of the company, they have been in a 'transition phase', as they haven't been producing much. Also had a big share issue in Canada and have spent a lot on exploration. 

Hopefully they are moving out of this phase as the Andhorinas mine should be in operation by now.........


----------



## So_Cynical (20 March 2008)

14 March 2008- Perth, Western Australia: Troy Resources NL (“Troy” or the “Company”) (TSX, ASX: TRY) 
is pleased to announce today the *successful commissioning of its new Andorinhas gold mine* in Para 
State in Brazil. *First gold was poured* from the plant on March 13, 2008. 

The second ball mill, which will bring throughput up to full production levels, has arrived on site and is currently 
being installed. It is expected that the second ball mill will be commissioned in April.

Once at full production, the Andorinhas project is expected to produce approximately 50,000 ounces of gold 
per annum over a life of at least 5 years.

Some interesting comment by the CEO, in the Boardroom Radio interview...about the Mill, TRY has in 
mothballs in Cobar, NSW...they are looking to use the mill, to get an interest % in a new project...makes 
sense in the current climate...RE: High POG and low availability of debt funding. 

http://www.try.com.au/default.aspx?ContentID=68


----------



## So_Cynical (22 March 2008)

MMM...apparently Troy is now a take over target

Quote Link:
_Stock Resource independent analyst Peter Strachan told BusinessDaily the combined 
Lihir-Equigold is likely to swoop on smaller players in the local 
gold sector to further grow its operations.

Possible takeover targets included Perth-based juniors *Troy Resources* and Avoca Resources. _

http://www.news.com.au/heraldsun/story/0,21985,23410039-664,00.html


----------



## 56gsa (25 March 2008)

in a downtrend but $2.50-2.55 has shown some support in the past.  Has stocked the cash coffers with TSX listing (C$24m) and just commissioned new 50,000 ounce/yr Brazilian mine which also seems to have iron ore potential... with large cash and investments (in Canadian gold miners) - approx $80m compared with $180m mkt cap - could be a takeover target...??


----------



## Riles (25 March 2008)

Well here we are right back at around 2.30 again.
For the fifth time.
This is getting a bit repetitive! And I've been holding this all this time.
Note to self: remember to sell next time it gets to 3.40!
Sheesh.


----------



## So_Cynical (26 March 2008)

Riles said:


> Well here we are right back at around 2.30 again.
> For the fifth time.
> This is getting a bit repetitive! And I've been holding this all this time.
> Note to self: remember to sell next time it gets to 3.40!
> Sheesh.



Yep frustrating...weird thing is there was no reason for the run up to almost $4 as theres no reason for the current run down...i mean no surprise announcements, downgrades..etc....business as usual and the Sp gets hammered.:dunno:


----------



## Bintang (8 April 2008)

So_Cynical said:


> Yep frustrating...weird thing is there was no reason for the run up to almost $4 as theres no reason for the current run down...i mean no surprise announcements, downgrades..etc....business as usual and the Sp gets hammered.:dunno:




I'm completely new to this forum and only discovered it because I have just spent several days googling the internet to try and figure out why TRY is behaving the way it has. Thanks for your postings. I'm still highly puzzled but at least its good to know I'm not the only one - especially as I bought the stock last week for $2.36


----------



## Bruton (9 April 2008)

very nice...

two mile sandstone project:
Assay results received from hole TDD034 for downhole intervals from surface to 285 metres (about 63 per cent of samples submitted) include:
33 metres of 1.52 grams per tonne gold from 43 metres downhole, including five metres of 7.65 grams per tonne gold from 63 metres;
11 metres of 1.83 grams per tonne gold from 127 metres downhole, including four metres of 4.11 grams per tonne gold from 130 metres;
108 metres of 2.59 grams per tonne gold from 177 metres downhole. Within this intersection a number of higher-grade intervals were reported including two metres of 7.00 grams per tonne gold from 195 metres; 
12 metres of 9.05 grams per tonne gold from 209 metres; 
Seven metres of 9.47 grams per tonne gold from 257 metres and three metres of 13.51 grams per tonne gold from 268 metres.


----------



## So_Cynical (10 April 2008)

Bruton said:


> very nice...
> 
> two mile sandstone project:
> Assay results received from hole TDD034 for downhole intervals from surface to 285 metres
> ...




:dance:
Thats some nice gold hits...right next door to the processing plant 
Gold from 43 to 450 meters, and still open at depth....Troy had plans 
to go underground in Brazil anyway so two mines are better than 1.

Troy are very very good at what they do.


----------



## elnico50 (10 April 2008)

Very good company. I don't trade short term any more as I don't have the time, so I look for companies with a track record of results and competent management. 

Sentiment has pushed the share price down, maybe to around a bit lower than the price for the TSX placement. But the story still stands. 

No debt and no hedging and high POG - what a winner. 

Mine life for Andorinhas is expected to be longer than the official 5 years, and getting that Cobar mill contracted out would be quite nice. Not to mention the nickel JV with Western Areas.


:kiffer:


----------



## Bintang (16 May 2008)

Can anyone figure out why TRY has just dropped to $2.30 after the gold price has jumped $20 overnight?


----------



## So_Cynical (17 May 2008)

Bintang said:


> Can anyone figure out why TRY has just dropped to $2.30 after the gold price has jumped $20 overnight?




No Idea.

U know sometimes the SP just don't make sense...its a market, and 
this market is ruled by speculators, and TRY just don't do it for them 
at the moment.

On stupid, non fundamental weakness...all the believers can do is buy more.


----------



## Bintang (17 May 2008)

So_Cynical said:


> No Idea.
> 
> U know sometimes the SP just don't make sense...its a market, and
> this market is ruled by speculators, and TRY just don't do it for them
> ...




Well I guess that makes me a believer cause after it went down further below $2.30 I dived in. Actually I'm quite happy for the price to be knocked down further next week so I can keep accumulating.


----------



## So_Cynical (19 May 2008)

Bintang said:


> Well I guess that makes me a believer cause after it went down further below $2.30 I dived in. Actually I'm quite happy for the price to be knocked down further next week so I can keep accumulating.




Yep same...im taking profit on some of my recently acquired banking stocks 
to get more this week.

I reckon TRY will move on something soon...just a feeling.


----------



## Bintang (19 May 2008)

So_Cynical said:


> Yep same...im taking profit on some of my recently acquired banking stocks
> to get more this week.
> 
> I reckon TRY will move on something soon...just a feeling.




Well apart from the gold price itself there are a few things that could move it (if anyone bothers to pay any attention that is):
1) Results of the concept study for colluvial iron ore at their Brazil Andorhinas project - due this quarter ('08)
2) Andorhinas gold project reaching full throughput capacity with the commissioning of the second ball mill.
3) Results of assays from the recent 2nd drill hole at Two-mile Hill.

In the meantime I am going to be very patient  while still accumulating when the opportunity arises (as I did today below $2.15)


----------



## So_Cynical (16 June 2008)

Troy released an operations update today...with the big news that Troy looks 
like they will go ahead with mining of the (Andorinhas, Brazil) Iron ore deposit.

Iron ore Highlights include.

Testing to date indicates the ore to be of direct shipping (“DSO”) quality hematite.
We expect an initial project producing 500,000 to 1 mtpa of high grade iron ore will be viable.
The material is free digging and would be trucked to the nearby market in Maraba.
We expect initial capital to be less than US$5m and, production could commence in 2009.

http://www.try.com.au/default.aspx?ContentID=70


----------



## Mr Muzz (17 June 2008)

*Re: TRY - Troy Resources ready*

Here is some research info regarding Troy:

Reserves of Gold: 343,000 oz
Resource Base of Gold: 990,000 oz
2007 Production: 70,000 oz
2008 Production so far: 9,289 oz

This quarter's production should be significantly better as they have fixed the Mill motor at Sandstone.

Andorinhas Project - Troy is looking for Iron Ore - getting some high grades (56% to 68%)from scoping study

Production of Iron could commence in 2009.

They have $20.2m in cash in the Australian Entity and $2.3m in cash in the Brazil subsidiary.

"The great thing about this iron ore project is that the material is free digging and would be trucked to the nearby market in Maraba and thus capital costs will be kept to a minimum," TRY told us today. 

TRY also only have around 70 million shares on issue! 

From the recent ASX release:

"Troy Board visits the new Andorinhas gold mine in Brazil and ratifies budget of $9 million for gold and iron ore exploration in the region......

Perhaps the most exciting aspect of the visit was to see the progress on the evaluation of the iron ore resource. At this stage we expect an initial project producing 500,000 to 1 mtpa of high grade iron ore will be viable, subject to finalisation of the Concept Study and receiving all the requisite government approvals. This is now the major focus and it is hoped to be able to put an investment proposal to the Board as soon as the Concept Study is complete. The great thing about this project is the material is free digging and would be trucked to the nearby market in Maraba and thus capital will be kept to a minimum. At this stage we expect initial capital to be less than US$5m and, subject to permitting, production could commence in calendar 2009.”

The iron ore should be a great profit maker for TRY. 

It looks like costing TRY next to nothing to set up - just around US $5 million and the stuff is just dug up and trucked. 

It is also a quality product. 

From today's ASX report:
 "Testing to date indicates the ore to be of direct shipping (“DSO”) quality hematite with significant market interest from the iron works in the nearby industrial city of Maraba." 

It's also significant that the Troy Board has decided to 
spend "$9 million for gold and iron ore exploration in the region." 
With four drilling rigs on site there is going to be plenty of action.

The market seems to be completely ignorant, so far of this type of direct shipping iron ore resource where it costs next to nothing to set up operations, dig it up, and truck it. 

For a company like TRY with only around 70 million shares on issue it should prove a cash bonanza.


----------



## elnico50 (26 June 2008)

Hey guys

How does one keep tab on iron ore prices? Can't find a site anywhere which lists the current price. Or is it based on the price of steel?

Cheers


----------



## So_Cynical (26 June 2008)

elnico50 said:


> Hey guys
> 
> How does one keep tab on iron ore prices? Can't find a site anywhere which lists the current price. Or is it based on the price of steel?
> 
> Cheers




It would seem that theres no big market like the london metal exchange.

There is spot prices in various places around the world. 

Scrap iron/steel is around $500 per tonne.


----------



## leigh_munro (10 July 2008)

Has anyone got any insight as to why Troy has lost so much value over the last couple of weeks. 

Closed at $1.75 yesterday and it's looking to open even lower today....


----------



## Sean K (10 July 2008)

leigh_munro said:


> Has anyone got any insight as to why Troy has lost so much value over the last couple of weeks.
> 
> Closed at $1.75 yesterday and it's looking to open even lower today....



Just overall market probably leigh. There's a few exceptions but most have been punished.


----------



## elnico50 (10 July 2008)

leigh_munro said:


> Has anyone got any insight as to why Troy has lost so much value over the last couple of weeks.
> 
> Closed at $1.75 yesterday and it's looking to open even lower today....




Indeed this is a time when fear is ruling.....Most of the selling off in Troy has been low volume. 

The iron ore is exciting, but I'm more interested in hearing some good news in regards to their gold production. For example, extension of the mine life of Andorinhas


----------



## Bintang (14 July 2008)

*Press Release 14 July* "Troy is pleased to announce it has agreed to a private sale of its 7,628,571 shares in TSX listed Comaplex Minerals Corp. (“Comaplex”) .... for C$6.15 per share for total proceeds of C$46.9 million (approximately A$47.9 million) ......    Troy purchased its stake in Comaplex in January 2007 for A$27 million or approximately A$3.53 per share and thus this sale represents a gain of approximately A$2.73 per share or 77%."


*So what are they going to do with all that CASH -  about $0.68/share* ?


----------



## So_Cynical (14 July 2008)

55 Million in cash and a market cap of 130 million...producing gold and debt free.

As i said in a previous post...i reckon TRY has there eye on something.

MON had some good ground near Sandstone...maybe Troy could get it cheap at 
the fire sale.: or a ASX listed gold speckie in South America...Troy could swallow 
up for less than 20 million....all ready to got as well.

Cash is King.

Maybe we will get a special dividend.:dunno:


----------



## Dutchy3 (14 July 2008)

And on the back of this news 127000 odd through today which is the highest daily volume, on a positive day, since the high in Dec 2007.


----------



## nunthewiser (17 July 2008)

So_Cynical said:


> 55 Million in cash and a market cap of 130 million...producing gold and debt free.




 gotta luvvem , shame the market dont , i hold and have been accumulating on dips and weakness for over 2 years now , this is my main gold investment stock , prolly silly as couldnt sellem in the depths anyways .....anyways ........ aint it bout time it got noticed ?  blessem i say


----------



## ColB (17 July 2008)

> "...i hold and have been accumulating on dips and weakness for over 2 years now..."




Hey Nunthewiser, I hope you took some profit along the way.  Its certainly in a dip today.  Over 20% swing in the SP today!!  Hope it kicks up for you tomorrow.  I would have thought the all ords could have done better than 29 points after wall streets 276 point move up.  Anyone would think we're in a recession not the US.   Regards,  CB


----------



## nunthewiser (17 July 2008)

yeah m8 skimmed a few here and there over the time and rebought cheaper , but always kept at least half of total hold . actually bought a few more today too but as a trade stock this isnt for everyone , i restate this is an investment co for me and roll with the punches on it , worth a good research tho and many an unloved stone sometimes turn into jewels .....


----------



## So_Cynical (17 July 2008)

nunthewiser said:


> gotta luvvem , shame the market dont , i hold and have been accumulating on dips and weakness for over 2 years now , this is my main gold investment stock , prolly silly as couldnt sellem in the depths anyways .....anyways ........ aint it bout time it got noticed ?  blessem i say




Troy is my single biggest holding, and to be honest the only stock i 
truly believe in...the market will do what ever it will.

Fact is TRY is arguably the best (sml/mid sized) ASX listed Goldie out 
there, a true diamond in a sea of Cubic Zirconia's  RE: (MON, VRE ETC)


----------



## Bintang (18 July 2008)

So_Cynical said:


> Troy is my single biggest holding, and to be honest the only stock i
> truly believe in...the market will do what ever it will.
> 
> Fact is TRY is arguably the best (sml/mid sized) ASX listed Goldie out
> there, a true diamond in a sea of Cubic Zirconia's  RE: (MON, VRE ETC)




Within the last week TRY has also become my single biggest holding. Wasn't planned that way but after the price dropped way below $2.00 I just couldn't resist buying more. A DCF valuation of the Andorhinas mine assuming it has ONLY  a 5 year life comes in at around A$65 million (10% discount rate). Add value of cash and hard assets and already you have $2.00 per share that is rock solid intrinsic value. And the rest of their portfolio can't have zero value.
So for anymore punters wanting to throw away TRY shares at $1.60 I am eagerly waiting.


----------



## nunthewiser (18 July 2008)

LOL well without sayin GO TROY! and goin on a shameless ramp ,i will say geeez im glad to see that i aint the only silly bugga out there that been following there fundamentals for a while and owns a calculator . thanks guys been all alone out there in other chats , forums telling myself what a good lil co this is and startin to sound a lil obsessed with it  ....cool have a great day


----------



## ColB (25 July 2008)

Originally posted by *So Cynical*


> Troy is my single biggest holding, and to be honest the only stock i
> truly believe in...the market will do what ever it will.
> 
> Fact is TRY is arguably the best (sml/mid sized) ASX listed Goldie out
> there, a true diamond in a sea of Cubic Zirconia's RE: (MON, VRE ETC)




Happy Days "Not so Cynical"!  Your enthusiasm got me in at $1.61 the other day and is one of the only green stocks in my portfolio today.  Bintang will be happy as well.  

My biggest holding is LNC and copped a hammering today.  A true believer I bought a Sh#t Load more.

TRY looking very promising.


----------



## Bintang (25 July 2008)

ColB said:


> Originally posted by *So Cynical*
> 
> Happy Days "Not so Cynical"!  Your enthusiasm got me in at $1.61 the other day and is one of the only green stocks in my portfolio today.  Bintang will be happy as well ...... QUOTE]
> 
> Too right ..... after my previous post I continued buying at between $1.60 and $1.65 for as long as I could ....  the price jumped today presumably because of the latest news about the Andorinhas Colluvial Iron Ore Study.


----------



## So_Cynical (25 July 2008)

ColB said:


> Happy Days "Not so Cynical"!  Your enthusiasm got me in at $1.61 the other day




Good on ya Col...nice buying 

With today's ann it looks certain Troy is going into the iron ore Business.

Some ann Highlights


Andorinhas Iron Ore Project development cost of around 5 million.


The Pre Feasibility Study is looking at an initial production rate in the range 
of 500,000 to 1 million tonnes per year.


Operation start-up could be fast-tracked with production able to commence 
in the first half of calendar 2009.


Pre Feasibility Study is running in parallel with the resource estimation and will 
also be completed during the September 2008 quarter.


Potential to expand the iron rich colluvium in the area between Estrela and 
Abacaxi as well as further along strike to the east and west.


Lump fraction assays up to 68.46% Fe have been returned with 75% of 233 
pits in the colluvium returning assays greater than 55% Fe.


Read More http://www.try.com.au/default.aspx?ContentID=69


----------



## jman2007 (14 November 2008)

Looking quite cheap

At 76c yet another stock trading close to its cash backing. Never held them before, don't know much about them yet either. Balance sheet looks healthy with $60M in the bank, debt free and unhedged. 

Appear to have attained a track record as a relatively steady producer, with the ability to identify cash-burn issues and reduce cash costs per ounce, no easy feat in this day and age.

Might have to dig a bit deeper with these guys.

jman


----------



## rub92me (14 November 2008)

Hi jman, I'm with you there. TRY has been on my watchlist for the last 12 months. Looking for an entry with sp below cash backing. When (if?) some normalcy returns to the markets, I'm expecting the cash rich to do relatively well.


----------



## jman2007 (14 November 2008)

rub92me said:


> Hi jman, I'm with you there. TRY has been on my watchlist for the last 12 months. Looking for an entry with sp below cash backing. When (if?) some normalcy returns to the markets, I'm expecting the cash rich to do relatively well.




Yes cash will be king, absolutely. It's a little unnerving to say the least watching this behavioural-based trading slash the sp's of some of the more robust companies for no apparent reason. In saying that, TRY up 6.5% so far today, but I similarly would be waiting for some kind of sanity to be returning first.

Cheers
jman


----------



## So_Cynical (14 November 2008)

jman2007 said:


> Looking quite cheap
> 
> At 76c yet another stock trading close to its cash backing. Never held them before, don't know much about them yet either. Balance sheet looks healthy with $60M in the bank, debt free and unhedged.




Me and the CEO topped up @ this weeks lows...

http://www.try.com.au/default.aspx?ContentID=69

Mr Benson brought alot more than i did...:

With all that cash and gold speckies getting absolutely hammered, 
surely Troy will buy something, or take over a little explorer.

Good prospective land aint gona get much cheaper than it is now...or next few months.


----------



## Sham (15 November 2008)

Jumped in and bought a handful of these at 76c which seems a bargain with all the cash they hold. If TRY go lower then so be it but if your not trading this is a decent price to start accumulating.
Anyone buying these should be well rewarded by holding long term.


----------



## Sean K (24 November 2008)

80c cash backing and sitting at 70c but what are their assets now?

Two mines about to be closed, a low tonnage underground mine to be commissioned and a few mil of fe tons, with some land around it. Not much really there is there?

Disasterous chart. Long term buy and holders must be wrestless in the farter.

Any real reason to invest in this other than the cash in the bank?

*Q3 Highlights:*

• Total gold production of 17,217oz at a cash cost of A$698/oz (US$574/oz)
• Improved throughput at Sandstone resulted in 10,271oz of gold and a commensurate reduction in unit cash costs
• Higher throughputs and grade at Andorinhas resulted in nearly doubling production compared to the June quarter
• Sale of the Company’s equity interest in Comaplex Minerals (TSX), at a 21% premium to the then market price, resulted in a 77% return on the company’s initial investment
• Troy announced reserves and resources for the iron ore located on the Andorinhas leases in Brazil. Work in ongoing to commercialise these resources
• Troy has no debt, no hedging and cash and bank deposits of A$60m.


----------



## sinner (24 November 2008)

Hi kennas,

I know for example TRY has lots of 1.5g/t low grade dirt stockpiled at the Aussie site they are closing (can't remember the name sorry), from my understanding, most small-caps which would usually throw this away are currently milling it lucratively thanks to the high AUD price of gold.

It looks like they are trying to reduce their oz/year profile from the 100000s to the 50000s although I am not sure why.


----------



## herbert (24 November 2008)

sinner said:


> Hi kennas,
> 
> I know for example TRY has lots of 1.5g/t low grade dirt stockpiled at the Aussie site they are closing (can't remember the name sorry), from my understanding, most small-caps which would usually throw this away are currently milling it lucratively thanks to the high AUD price of gold.
> 
> It looks like they are trying to reduce their oz/year profile from the 100000s to the 50000s although I am not sure why.




I can tell you why they're a long term buy at these ridicolous levels:
The colluvial iron ore mine will only take 5M$ to get started and they can sell 500.000t - 1Mt p.a. , which will add a revenue of around 25M$ annually.

Then add the 50.000 ounces/year at a cast cost of 300- 350 USD which will add another 25M$ revenue and you'll see some compelling value when you hold long term. 

On the other hand they'll use their cash wisely to make acqusitions and grow their gold production.

I bought some more today because this has to be one of the cheapest producing gold companies out their trading below cash value !

Cheers


----------



## prawn_86 (24 November 2008)

Herbert,

Realistically how close are they to IO production? Have they done PFS, BFS etc? And with IO demand drop its not looking healthy for juniors.

They do seem to spend their cash wisely from the little research i have done, but past performance does not assure future success


----------



## So_Cynical (24 November 2008)

kennas said:


> 80c cash backing and sitting at 70c but what are their assets now?
> 
> Two mines about to be closed, a low tonnage underground mine to be commissioned and a few mil of fe tons, with some land around it. Not much really there is there?




As i said before Troy really do need to buy a project or takeover an explorer with 
potential....Troy still have plans to be a mid sized producer, and to do that they 
need to be a multi mine operation.

The land they have around it (Andorinhas)...its very prospective and peppered 
with small historical workings, and is over 112.000 hectares in size....there's prob 
a decade of exploration just there.

Troy management have a rock solid record of delivering returns to share holders 
(dividends) and mine development, 5 in the last decade, these guys are conservative 
and realistic...they have a track record of low cost, fast mine development.


----------



## herbert (24 November 2008)

prawn_86 said:


> Herbert,
> 
> Realistically how close are they to IO production? Have they done PFS, BFS etc? And with IO demand drop its not looking healthy for juniors.
> 
> They do seem to spend their cash wisely from the little research i have done, but past performance does not assure future success




Prawn,
It's all been done. PFS is complete and the latest quarterly indicated that production could get online in mid 2009, so in about 6 months time.

Even at these low iron ore spot prices, the colluvial mine will be profitable because production costs are very low... digging, trucking and delivering.


Take a look at the gold price, 1300AUD$/ounce, even 2g/t stockpiles will work out very profitable at these prices let alone 300USD$/ounce when the underground mine in Andorinhas gets online.

Only 69M shares on issue and TRY plummeted from a high of 4 $ , technical research would indicate that TRY bounces back to 1.50 $ level in the short- medium term.


DYOR

Cheers


----------



## prawn_86 (24 November 2008)

herbert said:


> technical research would indicate that TRY bounces back to 1.50 $ level in the short- medium term.




Yes the fundies do look to be falling into place, but i dont for the life of me see how you can say the above statement.

Nothing on the graph indicates its going to jump 100%, in fact a chart cant even predict that big of a rise.

What t/a techniques are you using???


----------



## herbert (25 November 2008)

prawn_86 said:


> Yes the fundies do look to be falling into place, but i dont for the life of me see how you can say the above statement.
> 
> Nothing on the graph indicates its going to jump 100%, in fact a chart cant even predict that big of a rise.
> 
> What t/a techniques are you using???




Prawn,
take a look at the chart: TRY has been way oversold considering that the fundamentals are still the same or even better ( gold price) than at the beginning of 2008 when it traded at 3.5 $ .
Look  at the sharp decline on low volume, it went down to around 67c which is a fall of around 85% from its high . When the markets recover this should make its way up to above 1$ imho, target 1.50$. 

They'll be cashflow positive next year and are currently trading below cash.


DYOR
Cheers


----------



## Sean K (25 November 2008)

herbert said:


> Look  at the sharp decline on low volume, it went down to around 67c which is a fall of around 85% from its high . When the markets recover this should make its way up to above 1$ imho, target 1.50$.



The The error in this logic is that it must have been well priced previously. It may have been overvalued and has come back in line with where it should be. Just like the XAO was overbought at 6800. The market will always over and undershoot.

If they get some sales agreements in place for the IO it would be nice, but when there's a whole bunch of other producers cutting back due to lack of demand and agreements being renegged on elsewhere, there just might not be a buyer. And any idea how it's getting to a port? Soory, haven't seen the PFS.

One thing that strikes me with their deposits is that there's not much really in the ground.

6.5m tn IO, and
350K Au

BRM is sitting on 1.5b IO and is valued at $60m with $105 cash in the bank.
A little goldie like AZM with 750K Au valued at about $6m

Obviously very difficult to do peer comparisons but it just sends signals to me.

Maybe everything is undervalued right now?


----------



## herbert (25 November 2008)

kennas said:


> The The error in this logic is that it must have been well priced previously. It may have been overvalued and has come back in line with where it should be. Just like the XAO was overbought at 6800. The market will always over and undershoot.
> 
> If they get some sales agreements in place for the IO it would be nice, but when there's a whole bunch of other producers cutting back due to lack of demand and agreements being renegged on elsewhere, there just might not be a buyer. And any idea how it's getting to a port? Soory, haven't seen the PFS.
> 
> ...






Kennas,
that's the big issue that makes TRY stand out among all the other junior gold plays, and that is the cash of around 60 M$.

The reason why AZM is valued at 6M$ is because they aint got no cash and the market believes they'll not be able to raise any more money in this environment... That is where TRY comes in because they're looking for some real bargain acquisition which they'll get for next to nothing with their 60 M$ in cash. Look at what they could do with all that cash.... They could buy lots of advanced, huge gold resources for a bargain and that is exactly what they're doing right now !!

The so-called small IO resource can be compared to the Andorinhas 250k ounces resource in terms of value as this will produce approx. the same cashflow.

So it's more like a 100.000 ounces/ year production.

As for the transport of the ore, they'll only have to truck it to the nearby city where the steel mills are and the ore is required.
That's why it will only take 5 M$ to get it online and production costs are extremely cheap.... Off-take agreements are underway btw.


I couldn't find another gold junior trading below cash value with some extremely profitable resources, management which already operated 5 profitable mines in the last decade and a dividend paid every year !


You know what, once hedge funds get back into the market they'll be looking for undervalued companies with a trackrecord of paying dividends annually and TRY will be one of them.

TRY traded at 3-4 dollars for about 4-5 years, and that was for a reason.


DYOR

Cheers


----------



## Sean K (25 November 2008)

Yes, good points. 

Will be interesting to see what they end up buying to add value. 

I'd be happy if they bought AZM for $20m ....


----------



## So_Cynical (25 November 2008)

kennas said:


> Yes, good points.
> 
> Will be interesting to see what they end up buying to add value.
> 
> I'd be happy if they bought AZM for $20m ....




More like 10 mill.. and a 3% royalty :

While on the subject of AZM, and TRY's need for good ground

http://www.try.com.au/default.aspx?MenuID=23

_Troy,s Strategic Investments

Birim Goldfields Inc (now Volta Resources Inc)

In May 2006, the Company entered into a strategic alliance with Birim for the
exploration of gold mining projects in Ghana. Pursuant to this strategic alliance 
*Birim granted the Company a right of first offer or refusal*, as the case may 
be, in respect of any of Birim’s interests or properties which Birim proposes to, or 
receives an offer to, joint venture, divest or transfer. In addition, Troy subscribed 
for, and was issued, 5,000,000 units of Birim._

Notice how Birim, now Volta has land to the West and South of AZM 

http://www.voltaresources.com/i/pdf/factSheet.pdf


----------



## Sean K (1 December 2008)

So_Cynical said:


> More like 10 mill.. and a 3% royalty :
> 
> While on the subject of AZM, and TRY's need for good ground



Interesting SC, thanks for that!

No doubt there will be some consolidation in the resources sector. Just hard to pick which scraps will be picked up...


Bounced ok off the potential bottom, but could only initially enter on a short term trade with a tight stop imo. Longer term until these red lines are broken, it's still going down, I'm afraid to say.

Obviously long term fundamental holders may stick it out. Hope general market world economics and sentiment change for you soon.


----------



## newanimal (30 January 2009)

Heavy increase in volume today,anyone know what thats about? my tools are limited at the moment. Nice trend seems to be establishing itself, at least to my novice eye.


----------



## So_Cynical (30 January 2009)

newanimal said:


> Heavy increase in volume today,anyone know what thats about?




Heavy increase in volume for the last 3 months...coinciding with the rejuvenated 
POG, especially in Brazilian and Australian dollars.

TRY Quarterly Report http://www.try.com.au/default.aspx?ContentID=70

Highlights


*60 Million in Cash and Bullion*
*No debt*
Total gold production of *15,233oz* at an *average cash cost of A$792/oz*
Sandstone mining to restart due to high* AUD gold price ($1350+)*
Lord Nelson Pit (sandstone) will add about 30,000 ounces to Troy’s production 2009.
Regional exploration of the Horizonte JV area (Brazil) produced encouraging preliminary 
channel sampling results of *3.0m* grading *13.55g/t gold* and *3.5m* grading *9.65g/t gold*
Horizonte JV area zone *remains open along strike and at depth*. Exploration is continuing.

Troy have 112.000 hectares around the Andorinhas mill...they prob have enough gold 
there to keep them going for 20 years.

---


----------



## JTLP (31 January 2009)

That is a bit of a worrying high cash cost is it not?

Are there any reasons behind this? (operation problems etc)

Is it expected to come down with a production ramp up?


----------



## So_Cynical (31 January 2009)

JTLP said:


> That is a bit of a worrying high cash cost is it not?
> 
> Are there any reasons behind this? (operation problems etc)
> 
> Is it expected to come down with a production ramp up?




There overall cost per ounce is prob slightly higher than the average
for Aussie operators....worrying ? no
_
At Andorinhas (Brazil), 56,744t at 4.34g/t gold were processed resulting 
6,804oz at an average cash cost of A$775/oz (US$535/oz).

At Sandstone (Aust), the excellent performance in the previous quarter 
continued through the December quarter with 139,424t at 2.12g/t processed 
resulting 8,429oz at a cash cost of A$806/oz (US$557/oz)

At the MamÃ£o underground mine, development continued with the mining of 
first ore during the quarter. Development ore grading about 5g/t gold is due 
to enter mill feed in February. The underground grade will increase in the 
June quarter as more ore is sourced from stoping rather than sill development._


----------



## Bintang (26 March 2009)

Ghetto23 said:


> Intrepid Mines has sold Casposo to Troy Resources for US$22 million.
> 
> Construction costs are too high I imagine.






Go Nuke said:


> I think this is a good result!
> 
> Unhedged gold company and now cash to put into Paulsens and the Indonesia mine.
> 
> Looks like the market liked it too.




Intrepid mines thread is excited about this being a good deal for IAU. Where's the excitement for TRY? Let me try to generate some:
Troy has just bought 454,900 oz equivalent gold discovered in-the-ground resources for only US$44/oz. They are paying cash for the transaction, (no debt) they have an existing gold production facility they can use to help develop the project at low capital cost. They have a proven track record of bringing new projects onstream quickly. In my opinion TRY has just added very significant shareholder value which deserves more crowing from the rooftops than what I hear from the IAU shareholders, for whom their company management has just sold off part of the farm.


----------



## So_Cynical (26 March 2009)

Bintang said:


> Intrepid mines thread is excited about this being a good deal for IAU. Where's the excitement for TRY? Let me try to generate some:
> Troy has just bought 454,900 oz equivalent gold discovered in-the-ground resources for only US$44/oz. They are paying cash for the transaction, (no debt)




I'm exited...Casposo is a good fit for Troy, its a very advanced project and at a 
guess IAU would of prob already spent about 10 > 15 million on development so 
far, so its not like its a bad deal for either party.

I brought into Try and IAU about the same time....i sold out of IAU last Month, 
Troy has a proven fast mine development track record, and Casposo is the sort 
of project they can get into production within 2 years....just like they did with 
Andorinhas....they have a mothballed mill in Cobar, surely it will be on its way 
to Argentina quick smart.


----------



## Bintang (30 March 2009)

So_Cynical said:


> I'm exited...Casposo is a good fit for Troy, its a very advanced project and at a guess IAU would of prob already spent about 10 > 15 million on development so far, so its not like its a bad deal for either party....




So_Cynical in respect of Troy it's more than just "not like a bad deal" I think its a great deal. I've done some analysis of Troy's shareholder value generation since 2001 - see the attached chart, which plots cumulative shareholder value versus cumulative market value of Troy's gold production.
The y-axis of the chart is Net Asset Value plus cumulative dividends paid and the trend shows that for every Australian dollar's worth of marketable gold produced by Troy, the company has generated on average A$0.276 of value for its shareholders.

Now lets' consider TRY's position at 31 Dec 2008: Its remaining gold reserves (proved + probable for Australia + Brazil are 243,250 oz = the reserves reported at 30 Jun 2008 minus production Jul-Dec 2008). Let's now assume this quantity of gold once produced gets sold for an average market price of US$900/oz or (A$1300/oz assuming ROE A$1.00 = US$0.69). That's a total market value of A$316.2 million. Based on TRY's past performance this should increase nominal shareholder value by A$87.3 million = A$1.24/share (have assumed 70 million shares)

Repeating the above calculation using TRY's remaining gold resources (measured + inferred) of 523,650 oz gives a value generation of A$2.06/share.
At A$1.36 TRY’s current share price is less than its net asset value per share as of 31 Dec 2008 (A$108.9 million/ 70 million = A$1.55 per share) and the market is not factoring in the incremental value of TRY’s future production from it existing mines. If I add some discount factors to the above analysis to account for the time it takes to actually produce the gold (and hence the revenue) I estimate that TRY should be worth around A$2.60 to A$3.40 per share and this is before the Casposo deal.

Now let’s consider the impact of the Casposo purchase. This adds probable reserves of 382,500 eq gold oz and inferred  resources of  454,900 eq gold oz at a cost to shareholders of around A$0.46/share (purchase price approx A$32 million). However, in TRY’s hands these reserves should generate incremental nominal shareholder value of around A$140 to A$160 million, i.e. A$2.14 per share. After allowing for the purchase price and time required for development and production, the Casposo deal ought to add another A$1.30/share of value to TRY – that’s a full valuation range of A$3.90 to A$4.70 per share!

For these reasons I consider TRY shares a great bargain at any price below $2.00. As I have indicated in previous posts I am an existing TRY shareholder and I continue to accumulate whenever I have spare funds available.


----------



## solomon (30 March 2009)

> For these reasons I consider TRY shares a great bargain at any price below $2.00. As I have indicated in previous posts I am an existing TRY shareholder and I continue to accumulate whenever I have spare funds available.




Thanks for the analysis, I'm appreciating the share price performance of late, but have been reluctant to top up. Your analysis has challenged me to think a little bit harder about my own analysis.


----------



## Bintang (30 March 2009)

solomon said:


> Thanks for the analysis, I'm appreciating the share price performance of late, but have been reluctant to top up. Your analysis has challenged me to think a little bit harder about my own analysis.




I am of course taking a long term view. The market is not going to suddenly go wild and bid TRY up to my valuation range - not under prevailing market sentiment that’s for sure. But for the astute and patient I think TRY offers tremendous value. I can redo the analysis much more conservatively but the current price under $2.00 still looks very cheap - and that is without factoring in any value for Andorhinas iron ore or any gold exploration upside (in Brazil and/or Mongolia). Meanwhile today TRY jumped another 5%, touching $1.49 before closing at $1.445.


----------



## So_Cynical (30 March 2009)

Bintang said:


> Meanwhile today TRY jumped another 5%, touching $1.49 before closing at $1.445.




So that's well over a 100% turn around since the low of 0.67 in November, also notice the 
increased volume since the low...love the way troy seems to trend with consistency.


----------



## So_Cynical (16 July 2009)

Troy have released some very nice drill results from the two mile hill prospect, 3 Kilometers 
from Troys production mill at Sandstone...8 new holes to follow up the 2 interesting results 
from last year.

Last years drilling (2 holes)


387.0m @ 1.57g/t gold
96.6m @ 1.66g/t gold

The 8 new holes


6.8m @ 15.73g/t gold
25.9m @ 16.56g/t gold
96.6m @ 1.66g/t gold
205.5m @ 1.14g/t gold
156.3m @ 1.14g/t gold
353.3m @ 1.04g/t gold
158.6m @ 0.83g/t gold
230.4m @ 1.62g/t gold

There is alot of gold at two mile hill...and alot of it is pretty deep down, maybe too 
deep :dunno: and still open at depth....details below.

http://www.asx.com.au/asxpdf/20090716/pdf/31jl93f4lmcjht.pdf
.


----------



## So_Cynical (29 July 2009)

Casposo resource upgrade out today...and as usual with Troy its all good news, a 32% increase in contained gold equivalent Indicated Resource ounces.

http://www.try.com.au/default.aspx?ContentID=79
.


----------



## champ2003 (26 August 2009)

So_Cynical said:


> Casposo resource upgrade out today...and as usual with Troy its all good news, a 32% increase in contained gold equivalent Indicated Resource ounces.
> 
> http://www.try.com.au/default.aspx?ContentID=79
> .




I believe that TRY could end up being the market darling of the year if it keeps on going like this.


----------



## So_Cynical (26 August 2009)

champ2003 said:


> I believe that TRY could end up being the market darling of the year if it keeps on going like this.




Yep...and they reckon they will be in production at Casposo by September 2010  as far as i know the mill to be used at Casposo (Argentina) is still in pieces in Cobar NSW....as ive stated before Troy are prob the best small mine developers in the Country, they set a fast, ambitious target and beat it every time.

I'm of the opinion Troy is at, or very close to that point in time when a small company becomes a large company, like a tipping point or turning point in history...all the great company's/businesses have had one.


----------



## champ2003 (27 August 2009)

So_Cynical said:


> Yep...and they reckon they will be in production at Casposo by September 2010  as far as i know the mill to be used at Casposo (Argentina) is still in pieces in Cobar NSW....as ive stated before Troy are prob the best small mine developers in the Country, they set a fast, ambitious target and beat it every time.
> 
> I'm of the opinion Troy is at, or very close to that point in time when a small company becomes a large company, like a tipping point or turning point in history...all the great company's/businesses have had one.




I agree,

I like the announcement today.

Exceptional profit for a mid tier Gold mining company with exceptional growth.

Couldn't ask for anything more really.


----------



## So_Cynical (11 November 2009)

Tomorrow (12/11/2009) is the record date for Troy's pro-rata non-renounceable entitlements issue, so if u didn't buy a couple of days ago your to late  one Share for every six held at the issue price of $2 per share...Troy hit 2.86 today so if Gold holds at near current levels, the issue should end up being very profitable to holders.

I'm taking my full entitlement.


----------



## Bintang (8 May 2010)

So_Cynical said:


> Tomorrow (12/11/2009) is the record date for Troy's pro-rata non-renounceable entitlements issue, so if u didn't buy a couple of days ago your to late  one Share for every six held at the issue price of $2 per share...Troy hit 2.86 today so if Gold holds at near current levels, the issue should end up being very profitable to holders.
> 
> I'm taking my full entitlement.




So_Cynical what are your thoughts just now on Troy?
I notice everyone's been quiet since the entitlements issue last November (of which I also took my fill).

On my part I decided to take profits recently at just under $2.50 and have reduced my holdings by 85%. My main reasons:
1)	From the news releases I noticed a spate of Director share sales between 15 Mar and 23 April ( C.R. Parish and John Jones)  during which they off-loaded over 300,000 shares at an average price of around $2.27.
2)	The December half year report ($5.5 million loss) and the March quarterly report were disappointing with lower than expected gold production at Andorhinas.
3)	After examining the March quarterly report I am projecting a loss for the current financial year of over $9 million or close to -$0.11 per share.

Also I see corporate overheads increasing year-on-year as dividends have declined.
The $16.5 million profit in 2008/2009 looks to have been a once off that was due to a prudent sale of investments before share markets tanked in 2008.

TRY share price has held up quite well during this week’s global turmoil and maybe if the gold price keeps on going the way it has I will regret going short last month. On the other hand I realized some very nice gains at the time.


----------



## So_Cynical (8 May 2010)

Bintang said:


> So_Cynical what are your thoughts just now on Troy?
> I notice everyone's been quiet since the entitlements issue last November (of which I also took my fill)




Troy is my biggest holding by far...in fact about 19% of my total portfolio, and today was a great example of why i still want to have a high exposure to Gold...the only 3 stocks i hold that went up today were Goldies.

Financially this year will not be a Stella year for Troy mostly due to Casposo dev costs, however next year will be stellar...high grade ore at Andorhinas and production from Casposo kicking in will see to that, then 2012 on target to be the best ever...add into the equation the continuing USD and EURO weakness and a little inflationary pressure and POG could see 2K+

I would expect the divi to hold this year and increase in 2011 etc and would expect Troy management to do there usual and acquire and test surrounding tenements....the big positives for TRY are direct gold & silver exposure and low risk/can do management.

I'm determined not to take profit before the SP reaches 2.90 however reserve the right to sell some of my more expensive shares at cost or small profit just to free up some funds.


----------



## Bintang (9 May 2010)

So_Cynical said:


> ..... and low risk/can do management.




When I see Directors of the company selling shares just before the release of a disappointing quarterly report I get a bit suspicious. For a stella year in 2011 they will definitely need the higher POG.


----------



## Sean K (9 May 2010)

Cash costs at Andorinhas look pretty high to me. Looks dangerous if there is a major correction in POG (which I doubt, but a risk). 



> Unit cash costs at A$853/oz were 2% lower than the A$872/oz in the
> December quarter.




And Sandstone:



> Lower throughput and gold production, longer haulage and harder ore
> resulted in unit cash costs of A$1,039 per oz compared to A$916/oz in
> the December quarter.




eeeek

I'm not sure why you've got 20% in this SC. 

Certainly been good since the Nov low like most goldies, but over 5 years you're still down. I suppose it all depends on your time frame.


----------



## Sean K (9 May 2010)

Bintang said:


> When I see Directors of the company selling shares just before the release of a disappointing quarterly report I get a bit suspicious. For a stella year in 2011 they will definitely need the higher POG.



Interesting.

Jones sold $145k on 20 April.
Parish sold $113k on 26 March.
Parish sold $220k on 24 March.
Parish sold $125k on 19 March.
Parish sold $93k on 9/10 March.

Not sure what Parish does for this company except sell shares.



> Robin Parish, Non-Executive Director appointed 27 November 2009, has been a Director of the El Oro Mining and Exploration Company since 1971, a mining investment company now domiciled in Guernsey, and listed on the Channel Islands Stock Exchange as El Oro Ltd.




How did he get his interest in this company anyway? He was made a director on 27 Nov 09, and then only had 137k ordinary shares direct interest and had 4.3m shares indirect interest?

Looks like he's just an investor who had to be made a director through Channels...


----------



## Sean K (9 May 2010)

kennas said:


> Cash costs at Andorinhas look pretty high to me. Looks dangerous if there is a major correction in POG (which I doubt, but a risk).



Just checking a presentation from late last year and found this gem on Andorinhas:



> Forecast production ~50k pa
>  Forecast cash costs: ~US$500/oz




Then from quarterly:



> Unit cash costs at A$853/oz were 2% lower than the A$872/oz in the
> December quarter.
> Full FY2010 production now expected to be in the order of 30,000oz.




Hmm, that is way outside of guidance. Way.


----------



## Bintang (9 May 2010)

kennas said:


> Just checking a presentation from late last year and found this gem on Andorinhas:
> 
> 
> 
> ...




Kennas, your observations are spot and are precisely why I found Troy's last two reports (half-yearly and quarterly) disappointing. Am wondering if the 'can-do' management team is starting to lose its touch.


----------



## So_Cynical (9 May 2010)

kennas said:


> Cash costs at Andorinhas look pretty high to me. Looks dangerous if there is a major correction in POG (which I doubt, but a risk).
> 
> I'm not sure why you've got 20% in this SC.




I never started out with a plan to have so much in Troy...just worked out that way and realise that i really do need to take some money off the table...now unlike Parish and Jones there's no way im selling any of my TRY shares for less than 2.59 



kennas said:


> Certainly been good since the Nov low like most goldies, but over 5 years you're still down. I suppose it all depends on your time frame.




Also depends on what you paid and how many you got at what price, lowest i paid was 0.77 highest was 2.60 something, average price is around 2.15 i think....anyway i figure if your going to hold gold stocks wanting long term exposure to the POG bull then you mite as well be collecting dividends and franking credits...and very few Goldies offer that.

Then there's management that actually tell the truth and looks after share holders, in the last 4 years TRY has done 1 very small private placement and 1 smallish rights issue....TRY's cash cost per ounce is always on the high side of any comparison chart because there real numbers.

Just look at CTO with a cash cost far less than TRY yet they cant fund there own operations out of operational cash flow, and thus constantly need to tap the market/shareholders for additional funds.

And look at LGL with that super deposit at Lihir island..took them how many years to pay a crappy dividend, while management decided to sell Ballarat for 4.5 million after spending what 200 mill on it...brilliant stuff. 

Looking at the Aussie gold producers sector, Troy is a shining light among a mostly small, motley and incompetent bunch...IMO


----------



## So_Cynical (12 May 2010)

Troys can do management shining thru again with yesterdays announcement of the finalisation of Casposo financing...the ann also confirmed that first gold is due to be produced in the August quarter of 2010.

http://www.asx.com.au/asxpdf/20100511/pdf/31q8rbml4zrj00.pdf

I say "can do" because this company has taken the Casposo project from a bare block with a hundred holes, in the high desert of Western Argentina to first gold in 17 to 20 months. :bowdown: :bowdown:

Just have a look at this place....amazing what they have done with so little money in just 17 months.
~


----------



## So_Cynical (13 May 2010)

So_Cynical said:


> unlike Parish and Jones there's no way im selling any of my TRY shares for less than 2.59




True to my word and plan, i sold about 40% of my Troy shares today at $2.69 for a profit including dividends of about 12% for the 2 and a bit years ive held these shares....overall not a great result, but a profit that kept pace with bank deposits is acceptable.

The main things are that the average price of the shares im still holding is now around 2.15 so there scope there to profit greatly going forward....and ive freed up a small chunk of cash so i can get a bargain or 2 before we rally back to the top of the range.


----------



## So_Cynical (20 September 2010)

So_Cynical said:


> The main things are that the average price of the shares im still holding is now around 2.15 so there scope there to profit greatly going forward....and ive freed up a small chunk of cash so i can get a bargain or 2 before we rally back to the top of the range.




LOL here we are 4 months later rallying back to the top of the range, i got my bargains PTM & PFL  and Troy's up trend has continued along with the POG rally....pretty much as i expected/hoped for. 

TRY makes up just under 16% of my total portfolio of 17 stocks...im heavily weighted to Troy and at today's 30 month high close of $3.18 im sitting on a very nice (mostly CGT discounted) profit.  pity it wont be totally discounted until mid December.

The TRY SP does tend to be spiky and i prob should be bailing out at these levels, then there's the dividend and Casposo first pour to come, both in the next few months and the POG rally still has some legs. :dunno:

Anyway here's a chart of my total Troy adventure thus far.
~


----------



## asc4 (4 October 2010)

I'm in. 

Liked the presentations. Feel like  they have management with actual goals, and drive.

Very keen on the grades and the exposure to silver and the product cost per Oz and unhedged. Gee Wizz!!

100,000 Oz. production will be hit soon enough.

With more exploration planned and financed, first pour at Casposo and dividend to come!

This is going in the Long Term drawer. I wanted something that I don't have to monitor to much, and I think I have found it in Troy. This has the potential to become a mid-tier Au/Ag producer in 12-18months.


----------



## So_Cynical (6 October 2010)

So_Cynical said:


> True to my word and plan, i sold about 40% of my Troy shares today at $2.69 for a profit including dividends of about 12% for the 2 and a bit years ive held these shares....overall not a great result, but a profit that kept pace with bank deposits is acceptable.
> 
> The main things are that the average price of the shares im still holding is now around 2.15 so there scope there to profit greatly going forward....and ive freed up a small chunk of cash so i can get a bargain or 2 before we rally back to the top of the range.




I sold another 40% of my Troy shares today @ $3.43 for a return including dividends of around 35% my remaining shares are now about 80% free carried and have an average buy price of $1.71 and will be held long term for dividend yield and long term exposure to POG/S and this great company.

Ill be very keen to load up on TRY if/when there's a significant Gold pull back, could be waiting for ever. :dunno: Troy now reduced to just another portfolio stock....mission accomplished.


----------



## So_Cynical (16 December 2010)

Troy closing up almost 9% today and hitting a NEW ALL TIME INTRA DAY HIGH of $4.29 with very heavy volume, they even got a speeding ticket! all this on a day when POG fell a little :dunno: maybe its all that Casposo silver. 

Dividend announcement still to come....lol watch em fall on the 4c divi announcement.


----------



## eddyeagle (17 December 2010)

So_Cynical said:


> Troy closing up almost 9% today and hitting a NEW ALL TIME INTRA DAY HIGH of $4.29 with very heavy volume, they even got a speeding ticket! all this on a day when POG fell a little :dunno: maybe its all that Casposo silver.
> 
> Dividend announcement still to come....lol watch em fall on the 4c divi announcement.





Hi SC, 

They were tipped in a newsletter so that would explain the massive volume spike...


----------



## So_Cynical (18 December 2010)

eddyeagle said:


> Hi SC,
> 
> They were tipped in a newsletter so that would explain the massive volume spike...




:holysheep: A newsletter was responsible for 3.3% of the company, 10 million bucks in Troy shares changing hands?...surely your over estimating the ability of any newsletter to move stocks so significantly.

And what sort of a newsletter recommends Troy AFTER the SP has risen over 400% in the last 24 months.  talk about being a little late to the party.


----------



## So_Cynical (27 April 2011)

Some very very impressive drill results released by Troy today...all outside of the current Reserves and Resources in the Kamila South East Extension and just 500 meters from the planned under ground development at Kamila and less than 1 km from the Casposo mill.


Hole CA-11-295; *14.70m at 7.79g/t gold and 1,292g/t silver* or 26.24g/t Au_eq from 342m
Hole CA-11-300; *1.35m at 3.46g/t gold and 2,266g/t silver* or 35.82g/t Au_eq from 306m
Hole CA-11-297; *1.90m at 6.36g/t gold and 1,470g/t silver* or 27.35g/t Au_eq from 270m
Hole CA-11-301; *2.10m at 2.54g/t gold and 652g/t silver* or 11.87g/t Au_eq from 445m
Hole CA-11-303; 1.0m at 1.43g/t gold and 123g/t silver or 3.19g/t Au_eq from 328m

That's an awful lot of silver :cowboy: Open at depth too.


----------



## mr. jeff (27 April 2011)

So_Cynical said:


> Some very very impressive drill results released by Troy today...all outside of the current Reserves and Resources in the Kamila South East Extension and just 500 meters from the planned under ground development at Kamila and less than 1 km from the Casposo mill.
> 
> 
> Hole CA-11-295; *14.70m at 7.79g/t gold and 1,292g/t silver* or 26.24g/t Au_eq from 342m
> ...




Very exciting. (more of the same) 2.2kg of silver per metre in one section, thats $6300 per cubic metre of extracted ore (before costs) using 2.4 t/m^3. VERY IMPRESSIVE. Surely the workers will be stuffing their jocks full.

There's such a lot going for TRY, makes you wonder why it is not acting like it.
This released with no response from the market. Hopefully there might be something happening as development gets moving, but from the gap up in mid Dec to now, there has been a 10 cent move up (SP 3.84 today) in total. Not so exciting, but watch; it may jump and leave a lot of people behind!


----------



## So_Cynical (7 June 2011)

Finally Troy has decided to pay a dividend  4 CPS fully franked with a record date of 14 June, also had the local Governor officially open the Casposo mine and released some production figures....Casposo April gold production of 4,414oz of Au at a *cash cost of US$232/oz Au* wow...with the cash cost set to fall with the current production ramp up and coming de-bottle necking. 
~


----------



## So_Cynical (9 August 2011)

After 4 years as a holder i have finally sold (@ $4.07) all of my Troy shares...mixed feelings as its not hard to see Troy breaking $5 over the next 12 months as long as the perfect storm for Gold and Silver continues...but i needed the money to buy into the current lows and i felt my investment in Troy had served it purpose..and its a new tax year.


Parcel 1 Purchased in 2007 ~ profit 63.80%  
Parcel 2 Purchased in 2008 ~ profit 368.97%%  
Parcel 3 Purchased in 2009 ~ profit 102.84%  

Plus dividends, so all round a great result...if ever there was a stock to fall in love with...for me it was Troy  good luck to the holders.


----------



## drillinto (16 December 2011)

December 16, 2011

Troy Resources Starts To Deliver On Its Promise At The Casposo Mine
By Our Man in Oz
www.minesite.com/aus.html (( Free registration ))

One month’s production does not a goldmine make, but when the cost of production in that month is an eye-catching US$103 an ounce it sure gets the juices flowing. That is precisely what happened last week when the chief executive of ASX-listed Troy Resources, Paul Benson, almost casually trundled out before a London audience the latest production news from the company’s Casposo mine in Argentina. If points were being awarded for the top talk at the Australia Day component of the Mines & Money conference, Paul would have won hands down, not for flair (that’s not Paul) but for an almost deadpan delivery of an astonishingly strong mining story.

“It is an impressive number,” he told Minesite’s Man in Oz when both of us had safely returned home, far from the chilly winds blowing across London from an even chillier Europe. “But, you really shouldn’t look at it in isolation. We’ll have our ups and down over time.” Oh dear, thought Minesite’s Man, here we go again, just when he’s getting excited about the outlook for Troy the chief executive hoses him down. Given the usual irrational exuberance of mining company CEOs there is something almost bizarre about a company boss who almost delights in spelling out the negatives and listing the things that could go wrong.



“I’ve been in the mining industry a long time,” Paul said when challenged on his ultra-cautious observations. Applying an Australian variation to a famous address by one-time U.S. President, Abraham Lincoln, Paul described his approach as one of: “You can bull**** some of the people some of the time, and all of the people some of the time, but you can’t get away with it all of the time with all of the people.” No explanation is needed for that little homily, though a bit more flesh needs to be added to the Troy story because it is a stock which just keeps on delivering, and almost certainly has a lot more to deliver.



The “crown jewel”, as Paul calls it, is Casposo, a project acquired in its undeveloped state at a bargain basement price of US$22 million in mid-2009, and developed at an even more impressive US$45 million (47 per cent less than the estimate of the original owner, Intrepid Mines) the project started to hit its early-years design output rate of around 80,000 ounces annually in September. It is a somewhat meaningless exercise, but instructive nevertheless, to consider what that October production cost means to Casposo, if achieved on an annual basis. Essentially, 12-months of gold production (including silver credits) at US$103 per ounce means the orebody acquisition cost, and plant development cost, could be paid for with about six months of cash flow.



It never works out that way, and Paul would be horrified to see such an optimistic assessment, but as ballpark introduction to Casposo, and what it means to own and operate a high-grade, low-cost mine, that’s what is theoretically possible. For a more sober view it’s best to let Paul do the talking, starting with the big picture of where Troy is today as the operator of two South American goldmines, Casposo and Andorinhas in Brazil, which between them helped the company post a modest profit last financial year of A$14.6 million, and pay a solid dividend of A10 cents a share.



Last year, however, was last year, and almost certainly the last in a series of “transition” years as Troy has migrated its operations from Australia to South America. In the current year, as reflected in a strong upward surge in the share price from as low as A$3.02 in March to recent sales around A$4.60, will be the first of what might called New Troy, a company producing well in excess of 100,000 ounces of gold a year at one of the lowest costs of any ASX-listed miner. Whether that US$103 per ounce at Casposo in October will be matched in future months remains to be seen, but the December cash cost will be aided by lower power costs after a switch from diesel generated power to grid power.



Lower costs and rising production are one of Troy’s attractions. The other, and perhaps the major attraction is the blue-sky exploration appeal of a company which has just started to unravel the geological secrets of a complex epithermal vein system. So far, Casposo has been seen as a relatively short-life project with Troy having a six-to-seven year mine plan, and an annoying mid-career decline in production as the mine makes the shift from open pit to underground. That issue, which has frightened some stockbrokers, is being addressed with a steady stream of “along strike” discoveries boosting the resource numbers, and with outcropping, gold-bearing, quartz veins providing Troy with walk-up targets to keep the three drilling rigs on site busy for the next three years.



“We’ve always believed we’ll have an extended mine life,” Paul said, before telling a small story against his own deep conservatism. “These types of epithermal deposits can be slow to reveal their hidden wealth so I’ve always played down the chances of quick success. The extension to the Kamila deposit was, however, a lesson in what can happen. I had just spent part of a board meeting explaining to the other directors that exploration would take time to produce the success we wanted. We went through a number of case studies showing how long it could take from discovery to when the mother-lode was found, with the object being to not build up hopes for quick-fire success.



“After all that preparation to get the directors primed for the long haul one of my executives called me across to show me a picture emailed from site showing the core which had just been extracted from the latest round of drilling. Just by looking at that core you could see it was lousy with silver, so I went back to the board and said disregard what I’ve just said.” That example is one of the upside surprises that epithermal vein systems can deliver, and while Paul would never say he expects more it would be a smart investor who, when doing his homework on Troy, looks through some of the cautious commentary and learns to live with a company which is determined to under-promise and over-deliver – to the point of being deliciously annoying.

::::::::::::::::::::::::::::


----------



## sreeve (30 January 2012)

Troy Resources decade long chart analysis. TRY still in a very strong bull channel, with the support line tested countless times. Chart looks healthy overall, but keep an eye out on those support lines.

Cheers
Scott


----------



## pacman (29 April 2013)

Quite an impressive company indeed, at $1.95 it think that it is a steal. Their recent partnership with Azimuth, who own 2 high yielding mines in Guyana Sth America, waiting until the sp was at a low before tendering their partnership, this acts to smooth out the drop in production of their current mines, it all points to capable and competent executive decision making and action at the top. 

I like that they have 90 mil shares and have stayed at that level, obviously management like to see their company succeed. Bought in at $1.96 and plan to buy more if it drops any. They also pay a decent dividend which is also why I bought in, there is also potential capital growth over the coming 2 years as the Azimuth mines move into full production.


----------



## mr. jeff (30 April 2013)

pacman said:


> Quite an impressive company indeed, at $1.95 it think that it is a steal. Their recent partnership with Azimuth, who own 2 high yielding mines in Guyana Sth America, waiting until the sp was at a low before tendering their partnership, this acts to smooth out the drop in production of their current mines, it all points to capable and competent executive decision making and action at the top.
> 
> I like that they have 90 mil shares and have stayed at that level, obviously management like to see their company succeed. Bought in at $1.96 and plan to buy more if it drops any. They also pay a decent dividend which is also why I bought in, there is also potential capital growth over the coming 2 years as the Azimuth mines move into full production.




Can't paste the chart but if you have a look at the yearly there is a very noticeable volume over the last month, about 3 times the average. A lot of stock has been changing hands. Whether this sell down from $5.00 to $1.75 has ended is not clear, however this volume suggests that it may have been halted and possibly turned. Certainly worth watching if you are after gold stocks.


----------



## skc (30 April 2013)

mr. jeff said:


> Can't paste the chart but if you have a look at the yearly there is a very noticeable volume over the last month, about 3 times the average. A lot of stock has been changing hands. Whether this sell down from $5.00 to $1.75 has ended is not clear, however this volume suggests that it may have been halted and possibly turned. Certainly worth watching if you are after gold stocks.




A fair bit of that volume was simply arbitrage of the AZH/TRY deal so don't read too much into it.


----------



## G Gekko (30 April 2013)

I like the look of TRY. They have solid fundamentals and in this market I think they are undervalued. Just wondering if I can have some information as to what happens in the event of a takeover? I see that the board has recommended shareholders accept the offer from AZH, but what happens if I personally value the company a lot higher? Am I forced to "sell" or exchange my shares for those in AZH?

What if I don't personally like AZH (or any company involved in buying out another)?

Thanks for anyone's help with my "noobish" questions.


----------



## So_Cynical (30 April 2013)

G Gekko said:


> Just wondering if I can have some information as to what happens in the event of a takeover? I see that the board has recommended shareholders accept the offer from AZH
> 
> Thanks for anyone's help with my "noobish" questions.




Very Noobish 

Troy is taking over Azimuth...so its the Azimuth shareholders that will accept or reject the offer.

If you own a stock that has received a take over offer you can sell on market at close to the offer price or not sell until your shares are compulsorily acquired...or sell directly to the company making the takeover at the price declared by them, though often this is done on market.

-----------

As for Troy i am very keen to get back into my favourite stock, these guys are superstar mine developers...however i have learnt to be patient so ill wait for a price under $1.50


----------



## G Gekko (30 April 2013)

So_Cynical said:


> Troy is taking over Azimuth...so its the Azimuth shareholders that will accept or reject the offer.




Thank you very much for the clarification! And here I was wondering what the heck was going on, it didn't make a whole lot of sense to me. :bonk:

I just placed my first order for when the market opens tomorrow. $1000 worth of TRY with a Limit of $1.95 a share. Personally I think it's already a bargain and am happy to wait out any short term volatility for a good company.


----------



## So_Cynical (30 April 2013)

G Gekko said:


> $1000 worth of TRY with a Limit of $1.95 a share. Personally I think it's already a bargain and am happy to wait out any short term volatility for a good company.




A limit buy above the close of 1.87 ok so some times its nice to be first in the cue... hasn't worked out to well for me over the last 6 years, im a 'let the price come to me' kinda guy...1000 bucks hey, the brokerage is gona be a killer. 1.5 > 2% down straight up.

Good luck.


----------



## G Gekko (30 April 2013)

Thanks So_Cynical. I only have a bankroll of $5000 to start with, so $1000 makes up 1/5 of my portfolio. I aim for an approach of value investing so will not be looking to day trade... that is unless they made some sort of massive discovery and the share price went up by 300% or something. 

Interesting comment on my limit. I'm going to observe the movement of the SP closely and see if I would have been better off going with your approach. If so (and it's probably likely)... I will probably adopt that in future.

Thanks very much.


----------



## Intrinsic Value (1 May 2013)

So_Cynical said:


> Very Noobish
> 
> Troy is taking over Azimuth...so its the Azimuth shareholders that will accept or reject the offer.
> 
> ...




I think you are right about waiting. The gold price has somewhat recovered over the last week or so yet the gold mining stocks are still heading down. How far are they going to go down if gold goes down again is anyones guess. I jumped a bit early buying SLR last week when I knew I really should have waited. Gold stocks are risky  but I still think that sooner or later when all the money printing stops gold will come back in favour and good quality miners like TRY will do very well. In the meantime there could still be some considerable down side.


----------



## jimbowan (1 May 2013)

Yep Intrinsic I agree the charts for all the miners still look a mess. I jumped into RSG and NST over the last couple of weeks, timed my entries pretty well but think I might have been better waiting a bit (RSG down 5% today for instance), all miners have been very volatile so waiting for the stock to drop for you has proven a sound strategy S_C.

TRY at 1.80 as I write this, its tested 1.72 recently and as I said the chart is a mess. This is my last targeted mining buy of this GOLD drop, I think unlike my previous 2 buys I am going to wait on TRY as I think there is further downside ahead, potentially 1.40-1.50 is my gut feel.

All hinges on the POG really...

Any technical gurus want to weigh in on a potential entry?


----------



## G Gekko (1 May 2013)

Intrinsic Value said:


> I think you are right about waiting. The gold price has somewhat recovered over the last week or so yet the gold mining stocks are still heading down. How far are they going to go down if gold goes down again is anyones guess. I jumped a bit early buying SLR last week when I knew I really should have waited. Gold stocks are risky  but I still think that sooner or later when all the money printing stops gold will come back in favour and good quality miners like TRY will do very well. In the meantime there could still be some considerable down side.




Hi Intrinstic,

Don't you view governments printing money as a catalyst for gold prices to rise? If the AUD was being devalued for example I know I would personally invest in either precious metals or the sharemarket to retain the value of my money while everyone else who keeps their money in the bank has their cash worth less today than it was yesterday. Devaluing a currency reduces purchasing power, so essentially by buying gold I'm retaining whatever cash I have now creating the illusion that I'm actually making more local currency than before.


----------



## prawn_86 (1 May 2013)

G Gekko said:


> Don't you view governments printing money as a catalyst for gold prices to rise? If the AUD was being devalued for example I know I would personally invest in either precious metals or the sharemarket to retain the value of my money while everyone else who keeps their money in the bank has their cash worth less today than it was yesterday.




Look at what M3 money supply has done. Inflation also hasnt kicked in despite all this money printing, and what has the POG done in the last 2 yrs?


----------



## Intrinsic Value (1 May 2013)

G Gekko said:


> Hi Intrinstic,
> 
> Don't you view governments printing money as a catalyst for gold prices to rise? If the AUD was being devalued for example I know I would personally invest in either precious metals or the sharemarket to retain the value of my money while everyone else who keeps their money in the bank has their cash worth less today than it was yesterday. Devaluing a currency reduces purchasing power, so essentially by buying gold I'm retaining whatever cash I have now creating the illusion that I'm actually making more local currency than before.




Yes I do but it may take some while to kick in because Japan are also on a big money printing exercise along with the US and Europe so it still might be a year or more away from this playing out in favour of the gold price and hence the gold stocks.

You have to be prepared to hang tough as prices might dip substantially in the interim. In which case you might want to buy more if you are convinced of a turnaround.


----------



## G Gekko (1 May 2013)

Intrinsic Value said:


> You have to be prepared to hang tough as prices might dip substantially in the interim. In which case you might want to buy more if you are convinced of a turnaround.




I was thinking that. Maybe if/when it does get to $1.50 it might be worth buying more.

Thanks!


----------



## So_Cynical (1 May 2013)

G Gekko said:


> k:
> I just placed my first order for *when the market opens tomorrow. $1000 worth of TRY with a Limit of $1.95 a share.* Personally I think it's already a bargain and am happy to wait out any short term volatility for a good company.




So did you get filled at the open? $1.89? Troy got to a low of $1.79 ~ 10 cents is a big difference...5.2% is worth waiting for....personally i hate it when i don't buy at near the days bottom or sell at near the days top.

Limit orders in a falling market (gold stocks) work best when low balled....pick an ambitious target and go for it.


----------



## G Gekko (2 May 2013)

Yes I bought in at $1.89. In hindsight everything you've said has been correct... and it's a great learning exercise. I still have faith that I bought in for a good price as there hasn't been anything new that has changed my mind about what I perceive to be its true value. I really might consider buying more of it if the price continues to drop significantly. Company directors are buying, substantial shareholders are also buying.

Thank you for all your helpful feedback!


----------



## Trembling Hand (2 May 2013)

G Gekko said:


> . Devaluing a currency reduces purchasing power, so essentially by buying gold I'm retaining whatever cash I have now creating the illusion that I'm actually making more local currency than before.




But you haven't bought gold you have bought a gold miner. Their cost will rise directly with a devaluing currency therefore more than likely Devaluing margin and profit. Miners are a poor way to play Gold IMO.


----------



## mr. jeff (2 May 2013)

So_Cynical said:


> So did you get filled at the open? $1.89? Troy got to a low of $1.79 ~ 10 cents is a big difference...5.2% is worth waiting for....personally i hate it when i don't buy at near the days bottom or sell at near the days top.
> 
> Limit orders in a falling market (gold stocks) work best when low balled....pick an ambitious target and go for it.




Yes but don't miss a trade for half a cent or miss selling a parcel for 0.5%. Many times I have put in an order to sell at a level which is within reach between the day high and low never to see it filled. Worse, if you only get a partial fill and the market moves against you the next day, you lose twice the brokerage plus the market change. 

Gold conditions not looking very promising based on the US comments overnight. Might be more of a chance to buy lower still.


----------



## So_Cynical (2 May 2013)

G Gekko said:


> Yes I bought in at $1.89. In hindsight everything you've said has been correct... and it's a great learning exercise. I still have faith that I bought in for a good price as there hasn't been anything new that has changed my mind about what I perceive to be its true value.




Yep well every day is a new day and a lesson to be learnt...your into the best small/midcap Gold miner in Australia at under $1.90 and eventually you will be in profit, just mite take a little while, Gold moves slowly and the SP of miners can move even slower.


----------



## skyQuake (2 May 2013)

So_Cynical said:


> Yep well every day is a new day and a lesson to be learnt...your into the best small/midcap Gold miner in Australia at under $1.90 and eventually you will be in profit, just mite take a little while, Gold moves slowly and the SP of miners can move even slower.




Why do you think its one of the best? Its costs/oz arent that low, and in hindsight Azimuth looks expensive and dilutive. Plus all that silver isnt helping it much in this climate.


----------



## So_Cynical (3 May 2013)

skyQuake said:


> Why do you think its one of the best? Its costs/oz arent that low, and in hindsight Azimuth looks expensive and dilutive. Plus all that silver isnt helping it much in this climate.




Best as in Best, the best at what they do.

Read back over my posts in this thread..look at the company history, Troy bought a gold mill in Cobar Western NSW cheap maybe 8 or 9 years ago, took the opportunity to buy a bargain then waited 3 years for a suitable project to deploy it.

Just so happens that that project was in the Western Desert of Argentina, from the purchase of the Casposo project to first pour was something like 21 months...Casposo was just 30 drill holes a dirt track and a tent when Troy took over, and they financed it with only like 25 mill in debt and no hedging. (from memory)

The debt was paid off within 16 months (from memory), These guys have never held less than 20 million in cash for the last half a decade, often near twice that amount...look at the dividend history and compare to others.

Troy are superstar Gold miners, one rights issue in the last 7 years, regular dividends, no debt, cash reserves...they treat investors with respect, they don't make mistakes and don't do stupid things.


----------



## nulla nulla (3 May 2013)

I know you are a contrarian SC but chasing this one is really out there.......(imo).

Since October last year they have dropped from $5.00 to a recent low of $1.715. This is a fall of more than 60%. Then again you'd imagine they couldn't fall much further, eh?


----------



## So_Cynical (3 May 2013)

nulla nulla said:


> I know you are a contrarian SC but chasing this one is really out there.......(imo).
> 
> Since October last year they have dropped from $5.00 to a recent low of $1.715. This is a fall of more than 60%. Then again you'd imagine they couldn't fall much further, eh?
> 
> View attachment 52016




It was out there when i bought Troy for 70c per share to  ended up making almost 400% on that one...just looked at the 5 yr POG chart and interestingly POG was around $1350 back in Oct 2010, at that time TRY was trading at around the $2.50 level...is Troy a more valuable company now with the SP significantly lower and Gold significantly higher???

No cap raisings since 2009, operating with record revenue, profit and holding record reserves..Troy is a superstar miner and bargain buying at around the $1.50 level (IMO) if we see that... Fundamentally Gold is still a goer, nothing has changed on that front just the POG.

------

I Believe we are being offered a magnificent opportunity to buy into the Gold bull, for me a second bite of the Cherry...this time im sticking with the cream stocks TRY and NCM is all im interested in...and i want to pay $1.50 and $15.


----------



## nulla nulla (4 May 2013)

So_Cynical said:


> It was out there when i bought Troy for 70c per share to  ended up making almost 400% on that one...just looked at the 5 yr POG chart and interestingly POG was around $1350 back in Oct 2010, at that time TRY was trading at around the $2.50 level...is Troy a more valuable company now with the SP significantly lower and Gold significantly higher???
> 
> No cap raisings since 2009, operating with record revenue, profit and holding record reserves..Troy is a superstar miner and bargain buying at around the $1.50 level (IMO) if we see that... Fundamentally Gold is still a goer, nothing has changed on that front just the POG.
> 
> ...




I note that you have been in this share for along time, taking profits off the table a few times. I also notice that TRY has broken through a few support levels in the last few months. Do you see any risk of the share price testing the support levels arround $1.20 (or even the November 2008 low of $0.65)?

From reading through the thread it seems they are often later getting production underway than their original estimates and they appear to have taken a long time to finally mount a take-over to expand. Have you done a comparison of annual production over the last 4-5 years or is that a waste of time?


----------



## G Gekko (4 May 2013)

Trembling Hand said:


> But you haven't bought gold you have bought a gold miner. Their cost will rise directly with a devaluing currency therefore more than likely Devaluing margin and profit. Miners are a poor way to play Gold IMO.




Yes, I suppose it's all relative. I mean costs can both rise and fall with a devaluing currency due to the decreasing cost of labour but the increasing costs of new equipment. After reading an article recently comparing the cost of making a shirt in an Asian country vs Australia or the US I believe that significant costs are accrued by the price of labour. It still doesn't mean that the price of gold won't bounce back to 'record highs', and these things make for great headlines for most traders (I think) that forces the SP higher. In reality what is the value of gold? We used to have our currency fixed at a value for gold so I don't believe it would have once been so volatile or misleading.

It's smoke and mirrors but I believe we can still profit from it.

EDIT: Should note that I'm only talking generally. I think miners in Australia are more open to suffering as the AUD remains 'strong' against most other currencies. Personally I think it would be great if we could devalue our currency a bit too but it's somewhat hard without creating inflation (unless your economy is in the doldrums).



> I Believe we are being offered a magnificent opportunity to buy into the Gold bull, for me a second bite of the Cherry...this time im sticking with the cream stocks TRY and NCM is all im interested in...and i want to pay $1.50 and $15.




Agreed with this sentiment. I'm about to have enough to buy another parcel of shares and I think I'm confident enough in TRY that if I see the SP lower much further I will pick up another.


----------



## So_Cynical (4 May 2013)

nulla nulla said:


> I note that you have been in this share for along time, taking profits off the table a few times. I also notice that TRY has broken through a few support levels in the last few months. Do you see any risk of the share price testing the support levels around $1.20 (or even the November 2008 low of $0.65)?




I sold out at $4.07 about 21 months ago.



So_Cynical said:


> (9th-August-2011) After 4 years as a holder i have finally sold (@ $4.07) all of my Troy shares...mixed feelings as its not hard to see Troy breaking $5 over the next 12 months as long as the perfect storm for Gold and Silver continues.




I have always believed that Gold would have a significant pull back at some point and i didn't want to be holding any gold stocks when that happened...the pull back took a little longer than i thought to come around, as usual i was way ahead of the curve.

My buy target is $1.50 i think that will be about bottom or at least close enough, Troy is a more valuable company than it was so i don't think old support will be very relevant...this is assuming POG finds support at no lower than $1200 > $1250.



nulla nulla said:


> From reading through the thread it seems they are often later getting production underway than their original estimates and they appear to have taken a long time to finally mount a take-over to expand. Have you done a comparison of annual production over the last 4-5 years or is that a waste of time?




Production figures a bit of a waste of time as they are all dependant on the reality's of being a small cap miner, mining lowish grade small deposits in 3 different country's (over the years) its hard to do what Troy does... develop mines from nothing in the middle of nowhere dealing with Governments and bureaucracies that don't use English as a first Language.

And doing that without diluting the share holders or borrowing heaps of money and or taking out hedging agreements...they don't charge ahead with expansion for expansions sake, its all calculated and deliberated and done with timing and sensitivity.


----------



## Gringotts Bank (19 June 2013)

Regular cup pattern forming.  The more regular the better.  If it stays with the pattern, then on 9/7/13 it will be at $2.50.  And if it doesn't then ....   it doesn't.


----------



## piggybank (30 December 2013)

Started the year at $3.65 and looks like it will close the year (tomorrow) around 80c - hopefully your not one who has held it all year!!


----------



## So_Cynical (31 December 2013)

So_Cynical said:


> (4th-May-2013) I sold out at $4.07 about 21 months ago.
> 
> ---------------------
> 
> ...




Troy and POG, one of the only big picture events that i have successfully picked...TRY trading at under 80c recently with the POG holding above $1150 USD is what i didn't expect to see, still nothing surprises any more...maybe that 1200 level held some physiological importance. :dunno:

Anyway history repeating? is it time to start switching into gold? hard to say with any real confidence.


----------



## TheUnknown (21 January 2014)

Just went in with a huge amount of shares in TRY. I think
Golds going up, and TRY has copped it alot.


----------



## So_Cynical (21 January 2014)

TheUnknown said:


> Just went in with a huge amount of shares in TRY. I think
> Golds going up, and TRY has copped it alot.




Troy up 8.6% today, i cant buy on big up days...i feel like i have missed something.

Good luck.


----------



## pixel (21 January 2014)

TheUnknown said:


> Just went in with a huge amount of shares in TRY. I think
> Golds going up, and TRY has copped it alot.




Noticing the obvious accumulation, Troy has been my preferred gold miner for a few weeks.
Initially I traded smallish swings; but when the first resistance was broken, I built up a double position.





Today, the initial trading range was doubled, which - to me - is an invitation to take - at least part - profit.
The Intraday chart (10 minutes) suggested sufficient resistance at the 200% level, so I placed sell order at $1.105 and watched them taken out.




If the rally continues, I don't mind paying up. But more likely, I'll be able to buy today's lot back lower. Possibly as low as Monday's gap-up.


----------



## BullsihBear (14 February 2014)

Along with SAR this was my first Aussie stock, I've been in and out of it about 8 times trading swings, bought at open on the 13th for 0.855, still have $12K in it as I think it is fairly solid till 1.60, depending on gold, even 1.90 but earning are on the 24th and I don't like to hold stocks over earnings.

Surprised this forum is so quiet with small good growth companies and garbage pump and dumps like FAR are more popular.


----------



## CanOz (14 February 2014)

The daily looks better than the weekly...


----------



## BullsihBear (15 February 2014)

CanOz said:


> The daily looks better than the weekly...




Overlay gold on that graph.  Gold was obvious with the QE in the US and with China long term plans, gold miners always nearly always lag the down swing and then the upswing in gold, then when the media start talking about gold prices, these stocks get momentum and they commonly they outpace gold. SAR also followed the same exact pattern but it was more extreme.

Why I closed out half my position is the people buying this now are the "gold is going to the moon" crowd, rather than real potential a good deal of future potential is now factored in. Maybe gold will go to the moon again and that future will be fulfilled, maybe not. However as TRY is listed on the TSE also and Canadians love their gold stocks, I consider TRY work keeping a position in for now.


----------



## CanOz (15 February 2014)

Actually that daily chart has a pattern that I've seen many times intra day, a big spike down followed by a channel as the smart shorts keep taking profits....eventually they all get squeezed out.


----------



## Intrinsic Value (15 February 2014)

BullsihBear said:


> Overlay gold on that graph.  Gold was obvious with the QE in the US and with China long term plans, gold miners always nearly always lag the down swing and then the upswing in gold, then when the media start talking about gold prices, these stocks get momentum and they commonly they outpace gold. SAR also followed the same exact pattern but it was more extreme.
> 
> Why I closed out half my position is the people buying this now are the "gold is going to the moon" crowd, rather than real potential a good deal of future potential is now factored in. Maybe gold will go to the moon again and that future will be fulfilled, maybe not. However as TRY is listed on the TSE also and Canadians love their gold stocks, I consider TRY work keeping a position in for now.





I am holding TRY as well.

Nice spike in gold price overnight should see a reasonable rise on Monday. One of the better gold stocks. I also like and hold SLR.

I am sitting on a very small profit right now on both stocks and cant make up my mind to hold on or sell. 

Not sure why the sudden upsurge in gold price or whether it can last and nobody ever seems to have any real good explanations for the rise and fall of gold.


----------



## BullsihBear (15 February 2014)

CanOz said:


> Actually that daily chart has a pattern that I've seen many times intra day, a big spike down followed by a channel as the smart shorts keep taking profits....eventually they all get squeezed out.




If this forum is going to be a pissing match and negative I will just walk away and stop posting. I have nothing to prove, this is meant to be fun. If you have seen a pattern, play the stock and make money from it. Jesus wept. 

If you do not realize the price of gold drives this stock, all hope is lost. The coloration is not only common sense but self evident from the charts. People reading this that hold TRY and have followed it also know exactly how it moves with gold, both here and on the TSE.  

If you held it steady for the past month you have made 50%, as I have the time and ability to read lvl II to a good standard, plan my trades based on the support and resistance, I have been in and out of this stock and made at least an extra 10% over the 50% of just holding it. 

This same gold play idea gained me over 110% with SAR also. 

Sigh, this is why we can't have nice things.


----------



## Trembling Hand (15 February 2014)

BullsihBear said:


> If this forum is going to be a pissing match and negative I will just walk away and stop posting. I have nothing to prove, this is meant to be fun. If you have seen a pattern, play the stock and make money from it. Jesus wept.
> 
> If you do not realize the price of gold drives this stock, all hope is lost. The coloration is not only common sense but self evident from the charts. People reading this that hold TRY and have followed it also know exactly how it moves with gold, both here and on the TSE.
> 
> ...




What an unusual reply to a benign comment.


----------



## BullsihBear (15 February 2014)

Intrinsic Value said:


> I am holding TRY as well.
> 
> Nice spike in gold price overnight should see a reasonable rise on Monday. One of the better gold stocks. I also like and hold SLR.




I was tossing up between SAR and SLR, both have moved well and followed the same gold play. I didn't want to have three gold miners however.

Who knows what Monday will bring but there is .13 short interest in TRY, I would not want to be on their side of this stock.  



> Not sure why the sudden upsurge in gold price or whether it can last and nobody ever seems to have any real good explanations for the rise and fall of gold.




Same thing that moves all things, sentiment and people playing games. I have my own ideas why but ultimately sentiment. I spent a year on the metals desk at JPM, I like gold's predictability, personally I hope for consolidation next week, then a continuation. When China / Indian / Russia wakes up on Monday is worth watching, I know what I would do in their shoes and how they react might be a tell to how much they really intend to buy.


----------



## CanOz (15 February 2014)

BullsihBear said:


> If this forum is going to be a pissing match and negative I will just walk away and stop posting. I have nothing to prove, this is meant to be fun. If you have seen a pattern, play the stock and make money from it. Jesus wept.
> 
> If you do not realize the price of gold drives this stock, all hope is lost. The coloration is not only common sense but self evident from the charts. People reading this that hold TRY and have followed it also know exactly how it moves with gold, both here and on the TSE.
> 
> ...




I'll save you the trouble and just stop posting replies to you mate....

IGNORE....


----------



## Wysiwyg (8 November 2014)

TRY still ploughing ahead with their gold production while a third mine in Africa is under construction. Set for completion in FY2 2015 they say. The plummet of share price in line with POG  is understandable while their All in Sustaining Costs per ounce is $1160 USD, leaving very little margin.


----------



## So_Cynical (9 November 2014)

Wysiwyg said:


> TRY still ploughing ahead with their gold production while a *third mine in Africa is under construction.* Set for completion in FY2 2015 they say. The plummet of share price in line with POG  is understandable while their All in Sustaining Costs per ounce is $1160 USD, leaving very little margin.




The new mine is in Guyana, sounds African but its actually in South America, 3 mines in 3 country's all in South America...cost per ounce is very close to the world average cost per ounce so its not like Troy is a shag on a rock there.


----------



## Miner (29 June 2015)

Nov 2014- last post.
June end 2015  I am writing but no value adder.
The price of TRY seems to be having a break out at 36 cents as I read between the lines on volumes and several charts posted in other forums.
On a side note, what is wrong with ASF ?
Hardly any new posting which forced me to frequent to Hot Copper which earlier I hardly visited.
Their volume of postings are enormous . In a single thread at least 10 to 20 postings whereas our most beloved ASF in total does not have 20 postings.
It is free for us and not whinging. But feeling very sad if this quality forum gets its natural death - Sorry Joe not to upset you but expressing my deepest concern.
Any thing we can help ?
Do you want to charge a modest fee to keep ASF meaningful venture for you and hence us ?
Regards


----------



## So_Cynical (18 November 2015)

Miner said:


> Nov 2014- last post.
> June end 2015  I am writing but no value adder.
> The price of TRY seems to be having a break out at 36 cents




Troy back down to the mid 20c level again, in for a trade @ 0.245, one of my all time favorite stocks, never bought close to this cheap before, all data chart says TRY hasn't traded at this price level since last century 1999!

Only for the true believers at this price - 3 year chart below.
~


----------



## So_Cynical (12 February 2016)

So_Cynical said:


> Troy back down to the mid 20c level again, *in for a trade @ 0.245*, one of my all time favorite stocks




Took a few months but out today @ $0.315 - 20% gross profit...totally sold out as this was with my IB account and i have enough long term holds, still keen on POG this year.


----------



## pettlepop (21 December 2016)

Massive dump on TRY over the past week, volume decreasing, might be time to dip my toe into this stock for a gold rally in 2017.


----------



## So_Cynical (21 December 2016)

pettlepop said:


> Massive dump on TRY over the past week, volume decreasing, might be time to dip my toe into this stock for a gold rally in 2017.




Thinking along the same lines, couple of smaller Gold stocks looking very cheap, with all the new shares issued over the last 2 or 3 years its easy to think 15cps is super cheap, market cap is around 68M, close to the cap less cash back in 2008.


----------



## Wysiwyg (22 December 2016)

Obviously bound by the POG so see a turn around there (think inverse) then Troy's large volume of lower price (19c to 13c) buyers  may benefit.


----------



## greggles (9 April 2018)

Troy Resources' Karouni operation in Guyana has achieved a record gold production of 21,703 ounces in the March 2018 quarter. This is 35% higher than the December 2017 quarter production of 16,109 ounces and 8% higher than the previous record quarterly production of 20,195 ounces established in the March quarter 2016.

Troy has been beaten down in recent years, so some good news is long overdue. The share price is up around 15% so far today.


----------



## greggles (11 April 2018)

13c looks to be an important level for TRY. It served at support in early 2017 and since breaking down through it in early May 2017, it has served at resistance.

This is shaping up as a potential breakout and am keeping a close eye on it.


----------



## greggles (26 April 2018)

greggles said:


> 13c looks to be an important level for TRY. It served at support in early 2017 and since breaking down through it in early May 2017, it has served at resistance.
> 
> This is shaping up as a potential breakout and am keeping a close eye on it.




Nice share price spike by TRY today after the release of an outstanding quarterly report. The highlights were:

Record gold production for the March 2018 quarter of 21,703 ounces, 35% higher than the December  2017 quarter production of 16,109 ounces and 8% higher than the previous record quarterly production of 20,195 ounces established in the March quarter 2016
Average head grade of ore treated for the quarter was 3.27g/t Au with a gold recovery rate of 96.0%
AISC of US$720/oz for the quarter, a 29% decrease from the previous quarter
Ore stockpile in excess of 180,000 tonnes representing more than enough for two months processing
Investec loan repayments made of US$7 million during the quarter (including the US$3 million paid on 3 January 2018), reducing the loan balance to US$16.2 million at the end of the quarter


----------



## greggles (11 May 2018)

I've been keeping a close eye on Troy Resources for a while now and believe that it is currently on the verge of a breakout. Buyers have been soaking up the selling during April and May and it now appears to be drying up.

TRY is currently at 15.5c with strong resistance at 16c dating back to December 2016. A bullish gold price is giving Troy the momentum it needs to break through 16c and make a strong move towards 20c.


----------



## greggles (18 May 2018)

OK, I'm calling Troy Resources as a possible breakout today. Big buyers moving in have pushed this to 16.5c and above previous resistance. I think the accumulation between 14c-15c has soaked up all the sellers at that level.

I think this could be another SLR.

@tech/a What do you think of this as a breakout and what do you make of that gap between 20c and 25c caused by the gap down in December 2016? How do you think this will this affect price action when TRY breaks through 20c?


----------



## Gringotts Bank (18 May 2018)

Symmetrical triangle target should be reliable.  18.5c would be the initial target, then 23 if buyers come in hard.


----------



## greggles (18 May 2018)

Gringotts Bank said:


> Symmetrical triangle target should be reliable.  18.5c would be the initial target, then 23 if buyers come in hard.



Although it's interesting when I look at TRY in a three month candlestick chart. There are three bullish candles that look very similar with a large body and a small wick at the top that I have marked with arrows. The first two were followed by a small move up the following trading day and then a couple of down days on lower volume. So perhaps we're due for a retrace on Monday?


----------



## Gringotts Bank (18 May 2018)

greggles said:


> Although it's interesting when I look at TRY in a three month candlestick chart. There are three bullish candles that look very similar with a large body and a small wick at the top that I have marked with arrows. The first two were followed by a small move up the following trading day and then a couple of down days on lower volume. So perhaps we're due for a retrace on Monday?
> 
> View attachment 87421



I reckon with speccy stocks it's reasonable to assume the big players have a long bias, so long as there's been a long ranging period after a drop, and so long as there's waves of buying pressure coming in over months.  It's got both of those, so then it's matter of timing the entry and working out an exit.  Whether it drops a few points Mon might depend on whether the big players have enough stock for their purposes.  If they do, they will remove the brakes and let it run.  I like the Wyckoff style for Aus specs.


----------



## greggles (21 May 2018)

Gringotts Bank said:


> Symmetrical triangle target should be reliable.  18.5c would be the initial target, then 23 if buyers come in hard.



Well, TRY has hit 17.5c and the buy side of the market depth has filled up nicely. Volume is well above average today so we are now well and truly into breakout territory. Your first target of 18.5c is possible today but it will largely depend on the direction of the gold price which has seen a bit of a bounce in the last half an hour.


----------



## greggles (9 July 2018)

Troy Resources has achieved gold production of 19,510 ounces for the June 2018 quarter, taking production for the 2017/18 financial year to 70,207 ounces.


> *EXCELLENT GOLD PRODUCTION CONTINUES IN JUNE 2018 QUARTER*
> 
> Troy Resources Limited (ASX: TRY) (Troy or the Company) is pleased to advise that the Karouni operation in Guyana has achieved gold production of 19,510 ounces for the June 2018 quarter.
> 
> ...




The TRY share price reached a high of 16c today and is slowly closing in on resistance at 17c. It will be interesting to see the Quarterly Report later this month. If it surprises in a positive way it could be the catalyst for a strong move through 17c.


----------



## barney (10 July 2018)

Had a quick squiz at this the other day and liked the production numbers 

They also had an AISC for the last Quarter of only $720 per oz which is absolutely brilliant …. If they can replicate that, their profit margins will be excellent 

They still have a bit of debt to get rid of (should be about $11 million US at the end of June Quarter) but given the production numbers that will be a simple accounting procedure


----------



## greggles (11 July 2018)

barney said:


> Had a quick squiz at this the other day and liked the production numbers
> 
> They also had an AISC for the last Quarter of only $720 per oz which is absolutely brilliant …. If they can replicate that, their profit margins will be excellent
> 
> They still have a bit of debt to get rid of (should be about $11 million US at the end of June Quarter) but given the production numbers that will be a simple accounting procedure



The remaining debt should be paid down soon. Yes, the AISC costs are great but it would be good to see Troy increase their reserves and increase production. That would really get the share price moving. I think it's undervalued on current numbers but the market sometimes needs a little convincing and I think it's only a matter of time until TRY heads into the 20s. There just needs to be a catalyst to get it past resistance at 17c.


----------



## barney (11 July 2018)

A lot of Goldies are treading water with the current Gold Price wobbling a bit …. 

I'm Gold positive but the gold chart suggests a bit more downside in the short term ...If it breaks $1240 I have it heading potentially to $1180  ….. 

Long term TRY look pretty safe to me given the cashflow they are generating. As you say though, more resource, more SP security.


----------



## greggles (12 July 2018)

barney said:


> Long term TRY look pretty safe to me given the cashflow they are generating. As you say though, more resource, more SP security.




Some results through today from the recently completed Spearpoint infill drilling program and the ongoing Larken infill drilling program. 15 out of the 22 assays at Larken are still pending. They look good to me and both prospects are not far from the Karouni Processing Plant.










The TRY share price hasn't moved much today. It ticked up to 16c, but is currently back at 15c. Sellers appear to be keeping a lid on the share price for now. Buy side of the market depth is starting to stack up though. The June 2018 Quarterly Report is due later this month. Perhaps it will be the catalyst that gets TRY past that pesky resistance at 17c.


----------



## barney (12 July 2018)

Spearpoint had some very nice intercepts …. POG may be the determining factor for this to move by the looks ….. looks a solid mid/longer term hold though


----------



## greggles (16 October 2018)

Troy Resources currently in a trading halt pending the release to the market of an operational update
on matters relating to the Karouni Mine in Guyana. It's a little ominous for a company to go into a trading halt pending an announcement relating to an operational update. Aren't these things usually released as a matter of course? Hmmmm...

TRY is due to commence trading tomorrow morning following the release of the announcement. I hope for the sake of shareholders that it's not a negative one.


----------



## greggles (7 November 2018)

Looks like the Ohio Creek Prospect might be a winner for TRY. Some encouraging drilling results were announced today.






Thick intercepts and nice grades. This part of the announcement was particularly interesting:


> From the only drilling campaign previously undertaken at the Prospect – a modest 1,364 metres of diamond drilling undertaken in 1995 – a best assay result of *1 metre @ 868.8 g/t Au from 61 metres *was recorded representing the highest gold grade in the region.




868 grams per tonne? Hmmmm. 47 drill holes are planned as part of Troy's current program with proposed depths of between 70 and 140 metres. To date, 23 holes have been drilled, with assay results for 21 drill holes received. Should be plenty of news flow for TRY in the coming months.


----------



## barney (8 November 2018)

greggles said:


> This part of the announcement was particularly interesting:868 grams per tonne




Gold Stock of the future …… Good Production … Low AISC ……. 

Few stale Bulls exiting on todays news …. time to start accumulating on the dips perhaps


----------



## greggles (17 December 2018)

Some additional drilling results from TRY's Ohio Creek Prospect were released on Friday. Here are the highlights from that announcement:







The Phase 1 RC drilling campaign at Ohio Creek has now been completed with 39 holes drilled in total to depths of between 70 and 140 metres. The assay results from 30 out of the 39 holes drilled are still outstanding and the company says they will be announced as soon as they are available.

The Phase 2 RC drilling campaign at Ohio Creek has already commenced with 14 holes already drilled out of a total of 23 planned to depths of between 75 and 120 metres. 

Looks like there should be plenty of news flow for TRY in the coming months. It would be nice to see it crack that pesky resistance at 17c.


----------



## barney (4 January 2019)

TRY is one of my picks in the 2019 Stock picking Comp.

They had a small downgrade in Ounces produced for the year followed by a Cap Raise right on Xmas at 10.5 cents so the SP had a big gap down.

Starting to look a bit more stable again around the 11.5 cent area plus the POG is also looking healthier.

Lots to like about the Co but a bit of water to flow under this bridge yet.


----------



## greggles (21 March 2019)

More drilling results announced from the Ohio Creek Prospect on Tuesday.

The 564.45 g/t result from the trenching program is a surprise.


----------



## barney (8 August 2019)

This looks like the break for TRY ….

POG + solid Production numbers for the year.  10 cents should be the low/support level now.


----------



## greggles (8 August 2019)

barney said:


> This looks like the break for TRY ….
> 
> POG + solid Production numbers for the year.  10 cents should be the low/support level now.




Agree barney, TRY has been beaten down for too long.

However, they need to get a move on with that Ohio Creek Prospect to firm up some reserves. I don't think there's much doubt that there's quite a bit of gold beneath the surface. They just need to get drilling. Some more good results will boost the share price, especially with the gold price in AUD at an all-time high.

The latest results released in the July 2019 update look very good.






TRY doing well today, up 14.3% to 12c on solid volume.


----------



## So_Cynical (8 August 2019)

greggles said:


> Agree barney, TRY has been beaten down for too long.




Somehow i doubt they will ever see $2.75 again - was a great company, i made a motza with Troy back in the day.


----------



## barney (8 August 2019)

So_Cynical said:


> i made a motza with Troy back in the day.




Your shout then  ….. 

I see they have wiped $25 million off the debt in less than 2 years.  Market Cap of around $60 million with about $7 million under the bed. 

So conservatively, assuming Gold remains solid, they could bank $50 million over the next 4 years even if nothing much changes.  That small market cap should re-rate substantially.  

If the POG goes even sillier, a lot of these smaller Goldie Producers could really jump over the next couple of years.  (don't hold unfortunately)


----------



## notting (8 August 2019)

So_Cynical said:


> Somehow i doubt they will ever see $2.75 again - was a great company, i made a motza with Troy back in the day.



A bit difficult after  doing this - In Sept 2016
Equity RaisingTroy is undertaking an equity raising at A$0.36per share (OfferPrice) to raise up to approximately A$40.7million through the issue of up to approximately 113million new Troy shares (New Shares), comprising:

*Then this shocker just before paying off it's debt which it could have covered with gold. -*
89 million shares placed at 8.5 cents per share,raising $7.57 million before costs, with M&G Investments emerging as the Company’s largest shareholder with approximately 12.6%  *Unbelievable betrayal of existing ordinary shareholders. They should be sued out of that deal to the substantial investors and board should be sacked.*


----------



## barney (9 August 2019)

notting said:


> In Sept 2016  Equity RaisingTroy is undertaking an equity raising at A$0.36per share
> 89 million shares placed at 8.5 cents per share,raising $7.57 million before costs, with M&G investments




Looking back at the chart, I'm surprised they were able to raise that money at 36 cents … The SP was almost in free fall, and continued falling after. 

The last cap raise to M&G does look a bit like money for the boys.  They have paid off nearly all the debt however, so all subterfuge aside, the SP should do better from here on.  Not much solace for those who did their shirts a couple of years back of course.


----------



## greggles (9 August 2019)

The future of Troy Resources depends on how much gold is under the ground at the Ohio Creek Prospect and how much per ounce it is going to take to get it out.

From the beginning this prospect has been pushed as "exciting" (see first announcement from September last year) and it has returned some great drilling results. It is also quite large in size:


> Drilling at Ohio Creek commenced in October 2018 and within a relatively short period of time, the Company has identified a gold-mineralised corridor of approximately 950 metres length which is open in all directions.




The July 2019 Ohio Creek Update indicates that all test work and geotechnical and hydrological works, along with development of the haul road from Ohio Creek to the Karouni Mill is scheduled to be completed by the end of October.

The same announcement also stated:


> The Company is currently awaiting assay results of more than 2,000 samples delivered to the laboratory in Georgetown, Guyana. Results will be released as they are received.




So there should be quite a bit of news flow in the next few months.


----------



## barney (9 August 2019)

greggles said:


> The future of Troy Resources depends on how much gold is under the ground at the Ohio Creek Prospect and how much per ounce it is going to take to get it out.
> So there should be quite a bit of news flow in the next few months.




Yep …. 

I appreciate  @notting 's assessment, and Shareholders who suffered back then would be rightly jaded …

But given the current state of things in the world and the POG etc, … coupled with the "money for the boys" cap raise with M&G …

I think TRY looks a good value BUY/Accumulate on any retracements (suitable price action withstanding)

If they fail from here, they basically deserve to fail


----------



## greggles (19 September 2019)

Some further drilling results announced on Tuesday from Ohio Creek and an extension to the Hicks Prospects.

Drilling to the immediate north-west of the Hicks 1 Pit has revealed some near surface high grade mineralisation over a strike length of approximately 450 metres which remains open.






At Ohio Creek drilling in the possible Test Pit Area is essentially complete with some significant new intersections at depth, including:






The maiden Mineral Resources Estimate at Ohio Creek and an updated Mineral Resources Estimate at the Hicks 1 Extension are due any day now.


----------



## greggles (3 October 2019)

TRY announced on Tuesday that the final payment of US$1.792 million to Investec Bank plc has been paid and as a result the company is now debt free.

Today, after a couple of months of consolidation between 10c and 12c, TRY pushes through to 12.5c on increasing volume.

News on the way?


----------



## barney (3 October 2019)

greggles said:


> TRY announced on Tuesday that the final payment of US$1.792 million to Investec Bank plc has been paid and as a result the company is now debt free.




Positive news!!  Price action/ Volume reflects that positivity.


----------



## barney (13 December 2019)

TRY still in Voluntary suspension since the fatality at Karouni Mine early October. Company has asked for a further extension till 20th Dec.

Meanwhile results announced yesterday … 

• Significant new intersections include:
* 17 m @ 149.14 g/*t Au from 34 m  including ⇒ *4 m @ 623.17 g/t Au from 37m 
*
That is a seriously rich vein


----------



## greggles (13 December 2019)

barney said:


> TRY still in Voluntary suspension since the fatality at Karouni Mine early October. Company has asked for a further extension till 20th Dec.




It's a shame but it sounds like it's getting really messy.


> On 18 November, with the expiry of the six-week permitted stand down period fast approaching, the Company took the decision to retrench just over 200 workers.
> 
> [..]
> 
> ...




Very unfortunate indeed. I hope it is all resolved soon. The need for more cash is not what shareholders wanted to hear I'm sure.



barney said:


> Meanwhile results announced yesterday …
> 
> • Significant new intersections include:
> * 17 m @ 149.14 g/*t Au from 34 m  including ⇒ *4 m @ 623.17 g/t Au from 37m
> ...




17m @ 149.14 g/t Au is simply incredible. 150 grams is more than 5 ounces. 

I hope there's more of that underneath the ground at Ohio Creek. Sounds like it might be TRY's last hope after all the drama and controversy in recent months.

This is a little worrying though:


> As shareholders would be aware, Troy, having fulfilled all the requirements for the grant of a title permit to undertake mining Ohio Creek some time ago, has been eagerly waiting the grant of the relevant permit.


----------



## greggles (3 January 2020)

Troy Resources recommenced trading on 23 December, and it looks like the short term damage has been limited. It has found support at 9c and is slowing climbing back up. Currently at 9.7c and not far from resistance at 10c, which it will need to push through convincingly to stay above.

A few quick points:

1. *Funding:* 40 million FPO shares have been issued at a price of 10c per share. The placement was made to TRY's two largest shareholders, M&G plc and Ruffer LLP, both of whom participated for 20 million shares each raising a total of $4 million before costs.

2. *Mining Operations:* The Board has formally approved the recommencement of operations at the Karouni Gold Mine. The restart of operations will begin immediately but progressively, initially with the employment of personnel involved in mining activities and later, after approximately two weeks, personnel involved in the processing area.

3. *Ohio Creek:* TRY need to drill the hell out this prospect as quickly as possible. With the gold price surging and the previous results being spectacular, they need to get more drilling results out as quickly as possible to restore confidence in the company's future. Ohio Creek is going to be a make or break deal for TRY.


----------



## barney (3 January 2020)

greggles said:


> 1. *Funding:* 40 million FPO shares have been issued at a price of *10c per share.*




That has to be a positive sign surely …. Higher than average Volume last few days as well ….  9 cents looks the new Low for the time being??

Accumulating between 8-10 cents is probably a punt but if things get sorted, it could be a lucrative punt down the track a bit …. Tempted


----------



## greggles (13 July 2020)

Some great drilling results announced today from the Smarts and Goldstar Prospects.






TRY finished the day up 6.9% to 9.3c with an intraday high of 9.5c.

The diamond drilling campaign at Smarts is continuing with five of eight holes having been completed. The Company also recently commenced an infill reverse circulation drilling campaign at the Goldstar Prospect.

No word yet as to when further drilling results are expected, but they can't be too far away.


----------



## greggles (7 August 2020)

TRY firing up today after the release of assay results from SDD187, the fifth hole of the current eight-hole diamond drilling campaign at Smarts Underground. This hole was the final hole for the first stage of the campaign.

Needless to say, the results were very impressive:







A cross section of the Smarts Pit illustrates that there is quite a bit of gold under the ground, albeit at depth.






TRY touched 18 month highs today when it hit an intraday high of 13.5c. It was last at 13.5c in November 2018. But 17c is the real challenge. If it can get through that it will be a very bullish sign.

The last three holes of the current drilling campaign are due to be drilled soon, and should be completed in September. Management have not ruled out drilling more holes. Either way the results from the final three holes should be very interesting indeed.


----------



## greggles (6 October 2020)

TRY continuing to plug away. Some great results from the first hole of the most recent 3-4 hole drilling program at Smarts Underground was announced today, but it's been very hard for the company to gain traction in recent years.

More drilling results on the way from both Smarts Underground and Ohio Creek but they're going to have to come up with something pretty amazing to get this old girl to really move.


----------



## greggles (13 October 2020)

greggles said:


> More drilling results on the way from both Smarts Underground and Ohio Creek but they're going to have to come up with something pretty amazing to get this old girl to really move.




And right on cue, TRY come up with something pretty amazing.






Now I'm no mining expert but I've seen some gold intersections in my time and 11 metres at 131.93 g/t ranks pretty highly. The market clearly thinks so too and TRY has surged 50% to 16.5c this morning, hitting an intraday high of 19c right after the bell. So a mighty gap up this morning for the old girl.

Results are pending for the third and final hole of the current program and a Maiden Ore Reserve at Smarts Underground is on track for release this Quarter.

Interesting times for Troy Resources.


----------



## barney (13 October 2020)

greggles said:


> Now I'm no mining expert but I've seen some gold intersections in my time and 11 metres at 131.93 g/t ranks pretty highly.




Unbelievable!!   They say where there is smoke there is fire. I'd say that is the mother of all "smoke" screens!


----------



## greggles (13 October 2020)

barney said:


> Unbelievable!!   They say where there is smoke there is fire. I'd say that is the mother of all "smoke" screens!




Hey barney, yes it's good news at last for Troy Resources. The cross section of Smarts Underground is looking good. The gold is at depth (170m-300m) but there are a lot of high grade areas in that zone. See below.






Also, I didn't mention in my last post that they have nine more holes planned to test for strike extensions to the north-west. Not sure when that's going to start, but my guess is that they will want to get moving on it pretty quickly. Strike while the iron is hot as they say.


----------



## greggles (14 October 2020)

This up-beat coverage of the drilling results by The West Australian should provoke some buying interest tomorrow.









						Epic gold strike for Troy in South America
					

Troy Resources has hit the jackpot with a four-ounce-to-the-tonne gold strike over 11m from 223m downhole in its latest diamond drill hole at the Smarts Underground deposit at its operating, million-ounce, Karouni gold project in Guyana, South America.




					thewest.com.au


----------



## over9k (14 October 2020)

So it actually ended the day flat. You have a position gregggles? I'm hoping to get one on a pullback. Order's in, we'll see if it fills.


----------



## greggles (14 October 2020)

over9k said:


> So it actually ended the day flat. You have a position gregggles? I'm hoping to get one on a pullback. Order's in, we'll see if it fills.




I've got a small bottom drawer position in TRY. Always regretted not selling back in 2016 at around 60c but hindsight is 20/20.

I always felt that there was a lot of gold under the ground at Smarts and surrounding prospects, but TRY has had a bit of a chequered history and never quite lived up to its potential for a variety of reasons.

This hole (SDD 189) is the first real compelling indication that TRY could be sitting on a gold deposit of substantial size.  1m @ 1,176.99 g/t is crazy. It begs the question, what else is under there?






The way the high grade zones at Smarts Underground are clustered will give TRY a good chance to reduce their AISC, but more drilling is needed to further define the resource. However I am starting to feel very optimistic about their prospects. Time will tell of course.

The share price did end flat today but TRY has a lot of stale holders to get rid of before there will be any substantial moves. I'd be keeping an eye on volume. A flat share price with decent volume would seem to indicate that buyers are eating away at those stale holders looking to get out. Probably a good time to get on board if you are looking to take a position.


----------



## bux2000 (14 October 2020)

Hi Greg,

I have already thanked you once for the time you spend sharing your knowledge and research, but it would be remiss of me if I did not acknowledge the ride I am enjoying not only with TRY but with TAO which I have held since early May, due entirely to your sharing.

Thank you again for your time

bux


----------



## greggles (18 March 2021)

Ah, Troy Resources. The gold mining company that just can't catch a break. More decent assay results announced today, albeit at depth, but they just can't impress the market much anymore. I think this company is cursed.

Share price up 8.3% to 7.8c today on a miserable turnover of $83,348.


----------



## barney (18 March 2021)

I agree @greggles 

After a quick read of their most recent Annual report, the only thing I can put their lack of progress down to (recently) is the extremely high AISC of $2460 US per ounce.  

Not sure why they can't get this under control, but even with great drilling grades, net profits are the name of the game

Pity, because on face value, the Co should be doing really well.


----------



## greggles (18 March 2021)

barney said:


> I agree @greggles
> 
> After a quick read of their most recent Annual report, the only thing I can put their lack of progress down to (recently) is the extremely high AISC of $2460 US per ounce.
> 
> ...




There's a lot of gold under the ground there, but Troy can't seem to dig it out at a reasonable cost. I'm pretty sure Guyana is a country with a relatively cheap labour cost, so you'd think they'd have an advantage... but no.

Honestly, I think current management need to go. A total clean sweep. Maybe someone else can make it work, because I think it's becoming pretty clear that current management aren't up to the task. All in my humble opinion of course and based on years of watching this current mob make a complete mess of things.


----------



## finicky (18 March 2021)

Troy have been dashing shareholder hopes for a decade. Was once a holder. Why the hell buy this out of all the other options?


----------



## bux2000 (18 March 2021)

It's interesting how you view changes. When I started my (investing) about a year ago I was determined to develop a portfolio of quality Companies that I could just keep and watch the portfolio grow. Obviously I was happy last October sitting on a nice gain and a dream.
In a former life we used to say .........It took about 10 years for a conservationist to become a property developer .....It has been a much shorter time for me to become a trader.
Yes I did hold TRY to break even.
Much like CST which escaped the chop by a whisker.

The proof of me being a sucker is I bought back into TRY on Tuesday thinking there may be a trade with a buy at .076c and a stop at  .072c time will tell.

I know you are right finicky

bux


----------



## over9k (18 March 2021)

Seems an appropriate video for some day traders that can't beat the market: 

 

Fact is that most traders don't beat the market, and that becomes especially so when leveraged etf's are available. My experience with penny-pinching is that it's a fool's errand unless you have a really hot tip/have genuinely figured out something that the market has missed (like the gamestop guy roaringkitty). 

People forget, the vast majority of the time, a low stock will be low for a reason.


----------



## divs4ever (30 August 2021)

Troy Resources Limited (Troy) - Request for Trading Halt

In accordance with Listing Rule 17.1, Troy requests that an immediate trading halt be placed on the Company’s securities pending a decision on the Company’s financial position. Troy anticipates that the trading halt will be lifted on the earlier of the commencement of normal trading on 1 September 2021 or when an announcement of its financial position is released. Troy is not aware of any reason why the trading halt should not be granted or any information necessary to inform the market about the trading halt. This announcement has been authorised for release by the Board

  DYOR

 i hold TRY

 brace for bad news 

 i would be surprised if they have landed a new major investor  , and unless they have found  a treasure chest  from some war-criminal/drug cartel  if can't imagine how the financial position would suddenly improve


----------



## finicky (21 September 2021)

Ken Nilsson has died after being operated on. 
As if this company wasn't stuffed enough - he was the only thing it had going.

All Data Monthly


----------



## Sean K (22 September 2021)

finicky said:


> Ken Nilsson has died after being operated on.
> As if this company wasn't stuffed enough - he was the only thing it had going.
> 
> All Data Monthly
> View attachment 130586




That sounds like bad news.

That chart is possibly just as sad. Ouch. I haven't looked at this in a decade but remember it being a potential big player.


----------

