POG still rising, 1261 and breaking out
This still looks positive to me for these reasons:-
- dilution is way lower than expected, only 25M shares from 440M so 5.5% only
- I didnt want any CR as its unnecessary
- it proves they dont need that much extra cash & FCF is funding OC & operations
- NRRI allows small holders to get cheap shares ex brokerage
- commitment made at AGM fulfilled, they are listening to small suffering shareholders
- focus is on the road & bridge to OC meaning they have approved fastracking OC ore to the mill
The positives are its a smaller dilution with less cash needed and shows TRYs finances are way better than thought.
The negatives are that it was priced too low (should be at 12c), some INSTO pulled out of paying over christmas and the NRRI could go for a while into Jan/Feb.
If they only need $2.5M when debt repayment of $3.1M is due 10 Jan then the cash at bank is looking very healthy & FCF is still strong.
I'm Positive
TRY will FLY!
