As already advised:-
"The increased production in December was a result of the Company having gained access to higher grade material from Smarts 3 and 4 ore bodies. On an annualised basis, the December production figure would see Troy produce approximately 75,000 ounces of gold... production for the month of December would have been higher but for an unscheduled partial mill re-line which resulted in a mill closure for 2 days. The ore stockpile at Karouni is now more than 125,000 tonnes .... This represents in excess of five weeks of mill production. Troy Managing Director, Mr Ken Nilsson, said today:- “ the problems of late 2016/early 2017 are now behind us and we are free and clear to exploit Karouni to its maximum potential. We expect to have the project back on budget in another month or so”
So we know already the main figures
-production of 16109 v 12855
-Dec production of 6224 (record), a rate of 75,000 ozpa
-grade higher 3% v 1.5% (smarts 3)
-stockpiles at records 125kT boosting balance sheet current assets/bullion on hand
-mill throughput at records , same again
What we dont know is the AISC, cashflow, AVRP, revenue, milled tonnage, cash build & loan payments.
"Back on budget" means guidance confirmed as to stronger production and costs lowered with debts paid as usual.
Market expects AISC at 1240 AVRP at 1290 as before, same cash & $1M loan payment, I think it will be -
-ASIC 1040 (much lower due to higher grades/higher production)
-AVRP 1310 (higher due to Au price rises)
-revenue = 16109 x 1300 = US$21M = A$27M (+$5M better than Q1 $16MpQ)
-cash +US$4M more
-loans paid $3M
-cash & bullion +US$5M more, free cashflow building
They have clearly produced more at higher prices at lower costs with stronger cashflow & larger stockpiles/bullion build so higher margins and better free cashflows.
Looks like someone knows the result and has worked out the above like I have.
TRY will FLY!
TRY Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
