Ann: Suspension from Official Quotation, page-4

Pending = the decision will follow.
It is either a board meeting regarding finances (=bad) or a meeting with a 3rd party (=non raise financing).

Remember balance sheet was due and who is going to sign off on that if there is no production.

Troy needs to get the 7 mio and start the upper potion of Smarts underground. Costs there are much lower than average, 700-ish, production very soon to get to and enough to pay back the 7 mio + the gold loan + some trade debt.

Also there is Barrick. If a takeover, why the earn-in? Makes no sense. And if Troy falters or Barrick let them, makes no sense either. Barrick financing Troy? Why should they? Also expect the Barrick earn-in tenements not to be used as collateral.

Also remember There is three or four Troy entities: Holding in Australia, huge losses carried forward, interesting as a shell, e.g. reverse merger. Caribbean companies holding the tenements. Troy Guyana owning the plant and likely sole debtor of the trade credits.

My thinking is this: If Troy falters someone will step in and get the assets very cheap. Yet he will have a plant, no tenements. And the gold loan investor: tenements but no plant. And anyone getting hold of these assets, maybe most importantly, without Troy Guyana and the agreements with Government of Guyana a new operator will have to pay import levies on everything, I doubt they will get the same deal as Troy and Guyana Goldfields back then.

And if someone would takeover Troy instead of letting them falter, what would he have to pay and what would he get? Share capital (for whatever) + A$25 mio trade debt + A$13 mio gold loan. He gets US$47 net cashflow from Smarts Underground reserves, likely to have a very low top-cut and 2 g/t cut-off, so reality down there will be different. He gets a plant, nearly A$100m. He gets import and tax agreements with government, a huge tax benefit with the losses carried forward (several dozen millions A$) and a few royalties in Australia and Brazil. No value can be put on tenements and Barrick earn-in.

I don't know what will happen next. Let's see.

Every actor will do what is best for his own interest, after all it is a cutthroat business. That still might lead to interesting outcomes.