sovereign risk, page-10

"The market is not logical".

Yep, ain't that the truth. I really don't understand why TRY is heading south so quickly - the last quarterly was disappointing for sure but at the same time doesn't seem to be a justification for such a steep drop in the SP. Just who is selling out & why ?

I'm just wondering what's happening with management at TRY in the last couple of months. Firstly, where was the disclosure in response to the incidents mentioned in the recent quarterly ? These things occurred in nov/dec, affected production significantly enough to warrant a downgrade in forward estimates, yet weren't disclosed for a month or two. TRY's price was trending down admittedly, but the news contained in the quarterly turbocharged this trend.

We've seen the market cap drop by approximately 50% in the 4 months or so since mid October's $5.00 share price. At the time of writing this, the price is now $2.55 and a 8% drop today alone.

Surely TRY management should be taking at least some steps towards addressing this ? We've heard nothing from them since the quarterly, and not much more in the previous few months. I realise a lot of this may be out of their control, but perhaps a statement to the market re-affirming the important fundamentals, the exciting potential, progress on firming up reserves estimates, etc would at least provide a little reassurance & support ?

I find it hard to believe that the drop is entirely (or mainly) due to the perceived sovereign risk in Argentina. This has been an issue for a long time now, and hasn't suddenly crept up in the last couple of months.

And I think management have previously made it clear that there is an overwhelming likelihood that substantial reserves will be identified to carry the mine through to a 10 year life span. They've got a track record on delivering on what they say (when they actually say something !).

Pretty disappointed that there seems to be absolute silence from the company on this.

And even more disappointed that I don't have free funds available to scoop up a big parcel at these insanely cheap prices (imho)...