TRY troy resources limited

Gold producer in Guyana

  1. 11,614 Posts.
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    Announcement on 26October said the first gold pour was expected in the first half of November, so look forward to the confirmation tomorrow - surely there can't be any further delays here as they've had adequate time sine completing commissioning to get this into production - and revenue is now urgently needed to supplement rapidly depleting cash balance - not only do we need to repay $10mil of the facility on 31December but we also need to retain a cash balance of $15mil after that - that's $25mil of the $35mil we had at 30September of which a lot must have been expended between then and now - not only in wage, exploration, corporate and other costs since then but also amounts owing at 30Sept and financing Casposo as well - don't see how they can survive without a new capital raising or a change in the debt repayment scheduling so that $10mil repayment next month is delayed.
    So fully expecting confirmation by Tuesday of the first gold pour in Guyana together with a financing announcement.
 
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Currently unlisted public company.

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