COMPARE TROY TO BLK BLACKHAM RESOURCES LIMITED, page-6

its chalk and cheese.

BLK v TRY (in US$) :-
equity - 1260M v 440M
AISC - 1147 v 895
AVRP - 1246 v 1308
Q4 margins U$100 v U$413 peroz (with GP at 1210 now at 63 v 315 !)
Q4 production 19400 v 19510
Production annualised from H1- 80048 v 82426
FCF - $1.5M v 7.8M
Cash & bullion U$18M v 5.8M
Head grades 1.4 v 3.19 g/t
Secured debt - 24.6M v 11.19M
Market cap 58M v 62M

Whilst looking at production, market cap or cash, you can easily be misguided in the comparison.

TRY has triple the grade, quadruple the margins & cashflow, 25% lower costs, half the debt, a third of the shares/way less dilution.

At current spot price of 1210, BLK is a marginal high cost low margin producer but TRY is now the exact opposite with 5 times higher margin than BLK.

Compared to BLK, then TRY is the lean mean low debt high grade high margin high cashflow machine,
And TRY has the underground mine & the proven guyana shield gold region surrounded by 5M-10Moz deposits/mines.

At that Market cap assuming BLK is fairly valued, TRY ought to be at 35c like DRM is at.

You surely jest!