TRY is beautifully positioned to come out of this market correction as a much bigger and stronger company imo.
How many juniors in these tight crediit and depressed market conditions would love to be able to get hold of $60 million or so to help progress their gold resources to development?
Or might they come to realise that with depressed share prices the best way ahead is to merge with a cash rich junior?
Not only is TRY cashed up, but TRY also has a gold processing plant looking to find a home via a suitable joint venture with another gold junior aiming to go into production.
TRY is currently ramping up production at its new projected low cash cost gold mine in Brazil. Every previous gold mine TRY has operated has been a success, so there is no reason to believe that will not be the case here.
Plus TRY has an iron ore project that could imo become a cash cow in 2009. TRY has made a number of announcements about their iron ore prospects. Plus there have been post here.
By the way, the commodities boom looks like it could be about to get a kick along from China, where measures are now being taken to increase economic growth!!
"China has already loosened bank lending quotas, raised taxx rebates for some exports and halted the yuan's appreciation against the dollar.
``The deceleration in inflaation supports the shift in policy,'' said Sherman Chan, an economist with Moody's Economy.com in Sydney. ``They think inflation is under control so now they can focus on sustaining growth."
Full article at http://www.bloomberg.com/apps/news?pid=20601087&sid=a7PfcFh9RM3s&refer=home
TRY Price at posting:
0.0¢ Sentiment: None Disclosure: Held
