No gain without pain. Troy will come back stronger than ever. We should not forget the story of SBM.
Based on my contacts and research of the current operations, I am convinced that Troy has made a number of changes to improve the performance of Karouni:
-The appointment of experienced general operational manager will increase the focus on training and address the issues in a challenging environment in an effective way.
-They have increased pumping capacity and mining fleet.
- They have gained access to higher grade ore and it is expected to achieve full operational performance in the first two weeks of April.
-They are currently negotiating a better loan repayments and hedging timetable.
The recovery of gold price is on the horizon with the Dutch election this Wednesday and the French next month.
I see a great value at the current price, have been accumulating and will continue to do so.
I have written so many posts on BDR and told everyone that the next level of gold would be $1336 and my target for BDR was 50 to 60c. I said that when the share price of BDR was around 20c. BDR got to 55c and the price of gold went to >$1375.
In short:
Every company with good assets will go through tough times (management bad decisions, pit wall collapse, gold price collapse, etc----), the bottom line is, at the current share price, Troy represents a fantastic entry point and upon improvement in the mine performance, Troy will outperform by miles and the book value will be achieved and even more.
My thoughts.
TRY Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
