nice read on a nice day, page-12

"a lower margin polymetallic mine where OPEX is artificially low due to Ag credits."

Plough, respect your decision not to invest if TRY doesn't fit your criteria.

But I fail to see how easily you dimiss the fact that there are silver credits at Casposo like they don't translate to real money...

I DO count the silver credits. Why wouldn't you? And if this means that the OPEX comes out at US$90/ounce because of these credits, sobeit.

In fact, one could argue that, as silver has industrial applications, where gold tends to be counter-cyclic, there is something of a natural hedge in a gold-silver mine...

But I agree that Troy does not have the blue sky of some stocks. It won't be a 10--bagger.

But for me, finding cheap stocks (at least half to 1/3rd of fair value), that are well managed and have a history of growing the intrinsic value of the company year-on-year...

Well, that sort of risk/reward matrix suits me.

Thanks for your contribution though.