TRY - Troy Resources

[So_Cynical]

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.
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[So_Cynical]

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]

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.
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[asc4]

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]

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]

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]

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]

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]

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]

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.

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]

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]

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]

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.

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[sreeve]

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]

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]

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]

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]

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]

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.

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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]

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.