Ann: Outstanding Assay Results at Ohio Creek, page-33

kojak - worth noting that in the announcement today it is stated that they have still to report on 26 of the 47 drill holes in this campaign, that they intend to begin a new campaign of drilling at Ohio Creek as soon as this first phase of drilling is complete and that Ken Nilsson said in his commentary that the company intends to report assay results as soon as they become available. So I would expect that for the next few months at least there will be a steady flow of announcements regarding the Ohio Creek prospect and with some skills and some luck those rolling announcements will be telling the market of decent hit after decent hit. Maybe the current market is ornery enough to ignore one announcement of good drill results but I still believe if there is a succession of positive announcements from Troy then the market will react more approvingly.

On a different topic, I need to go look at some past announcements by Troy but it seems to me that they have used unusually positive language in today's announcement - are they always as upbeat as this? For instance the main heading for the announcement is "Outstanding first-pass assay …", then instead of the company using the stock standard way to start an ASX announcement "[the company] is pleased to …" they chose to say " [the company] is delighted to  …", Ken Nilsson says "“I could not have envisaged a more promising start to our evaluation of Ohio Creek" and "I believe Troy shareholders have much to be excited about."

If I wanted to be a cynic I might conclude that all that positive vibe that they are throwing about might suggest that they are setting up for a cap raise in the near future. If they were then today's share price action would be disappointing for them. I would hope that they hold off any cap raising for the time being, at least until they have the assay results from most if not all of the 47 holes from phase 1.