Ann: June 2018 Quarterly Report, page-119

"The reserves have not been upgraded for 2 years and this upgrade should be stunning maybe even triple the priors considering those stunning high grade drill results everywhere."

Umm, no. Each year the company puts out a Mineral Resources and Ore Reserves Statement. The one as at 30 June 2016 did show an increase in reserves of 48k oz to 330k oz. This was in an ASX announcement dated 2 September 2016. But the company also put out a statement as at 30 June 2017 (in an announcement dated 24 October 2017). This statement showed a decrease of reserves to 220k oz, mainly due to them adopting a model more in sinc with mining results. I suppose you can use weasel words and argue that the 2017 statement was not an upgrade because they actually cut the reserves figure.

And are you seriously suggesting that the statement that they put out in the month or so will show reserves of three times the previous figure? That they will report having reserves of more than 600k oz? That they will increase the life of mine by about 5 years? Well, gee, if you put it that way then Troy is undervalued.