They had to have a new MD after Ken sadly passed away, try was not in a position to go out and recruit a new MD at short notice with lots of uncertainty but as they had Richard on the board already made for an easy decision.
Think what is telling is what looks like the temporary nature of the appointment
More I think about it more I am inclined to think try are working on some sort of JV with Barrick, the length of the extension would be for due diligence ect to get a good picture of what try is worth and what deal can be made.
We can be pretty confident Barrick are keen on having a presence in Guyana and Karouni ticks a lot of boxes for Barrick, but Barrick is chasing tier 1 deposits and while Karoni has potential it is far from it. Never the less Barrick have a exploration budget of $260m or so, they have already committed to a JV exploring half of try's land holding and dare say they would be interested in the other half of the land holding that has already had a fair bit of drilling done.
End of the day it will be a matter of what SH get out of the deal
TRY Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
