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TRY - Troy Resources

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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.

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

 
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.
 

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

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.
 
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