He's ur uncle-right?

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glitzbling

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15/12/16

10:51

Post #: 21355805
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Originally posted by no1trishada ↑

I also will not be giving in to any temptation to sell on account of Jonesy's recent share sales. I have followed and often owned shares in TRY since they bought their Sandstone tenements from Mark Wilson's Cambrian Resources (Mark is now MD of LEG and co-director with Jonesy of TRL). In fact my first ever post on HC over 10 years ago was on TRY.

Although I have not spoken directly with Mr Jones for some time I believe also that his motives for selling are not driven by current mine/plant performance. I believe he is currently concentrating his efforts on the company that he chairs in an executive role, AAR. He is also its biggest shareholder. They have recently commenced an overdue drilling campaign on their gold prospect only 14 kms along strike from Kalgoorlie's famous "Golden Mile". They have also been holding significant zinc resources for a long time no doubt waiting for the zinc market to come back to life...which we know it now is. Their latest quarterly report reveals their cash in the bank was down to $112,000 so they are likely to be tapping the market for cash soon. Although I am only surmising, I think there is a fair chance some at least of the money he has raised from selling TRY shares will find its way into AAR.

Like the rest of us Mr Jones is not getting any younger. He has been with TRY since its inception and may be included in the "Board Renewal and Succession Underway" referred to in the Company's latest presentation. At his age it is not unreasonable to expect him to cash in some of his chips if his future director's role with the Company is nearing an end. Again I am just surmising.

So the posters here who are talking about deserting a sinking ship are either pushing their own agendas or panicking. I agree with Flaming that we should hang in for the long term, although unlike him I think their is good potential for short term gains, particularly if the company can shortly announce a continuation of the plant performance turnaround and/or good results from the recently commenced exploration program. Plus we now have the prospect of income from Argentina now that operations have recently resumed there.

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He's ur uncle-right?

TRY Price at posting: 17.5¢ Sentiment: Sell Disclosure: Held
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He's ur uncle-right?

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