TRY - Troy Resources

[So_Cynical]

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]

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]

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]

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

 

[elnico50]

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]

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]

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]

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]

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]

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]

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]

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]

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.

: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]

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]

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

 

[So_Cynical]

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]

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.

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]

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]

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]

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