TRY (ASX) Ann: Corporate Update

Originally posted by kojak78: ↑

addendum III:
Over all those years Troy still had a royalty over the Sandstone project tenements:
http://clients2.weblink.com.au/news/pdf_2%5C01395262.pdfLater on that property was split between Alto Metals and Middle Island Resources (central part with plant).

Was hard to dig up info on that royalty but it finally got confirmed by the sale of the royalty to Middle Island Resources back in 2021 (project now sold to Aurumin).
https://www.marketscreener.com/quote/stock/TROY-RESOURCES-LIMITED-6492302/news/Troy-Resources-Limited-Sandstone-Gold-Project-Enhancements-35818443/

The 2% royalty over the Alto Metals tenements should still apply.

As for the US$4m from the iron ore sale Troy already should have received $1.5-2M, so still US$2m - $2.5m to come. Out of that $1.7m in taxes in Brazil will likely need to be paid.

The positive new here might be that Troy signed the agreement in May 2022 and more than 360 days have passed. After having received the first $1.5m the next 0.5m installment requires:
"US$500,000 payable within 360 working days of the date of signing the Definitive Agreement
subject to the first commercial sale of the iron ore resulting exclusively from the exploitation of
the Mining Rights"

Troy's announcement "The contract continues on foot." might mean they got that installment which would mean the property is in production. And while that would not mean much more cash out of the US$4m installment plan due to Brazilian taxes it might mean more annual cash payments due to a 1.5% royalty on all iron ore sale from that property.

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From what I read in the announcement management don't expect much from Brazil
"The amount TRY may receive from the transaction is not certain as the transaction will most likelycrystallise tax liabilities owed to the Brazil government."

I am curious as to what will happen to the tenements and mill, would presume they would be sold off and going by the announcement try will get nothing from it.

Also have to wonder if try just allowed the Guyana company to go into administration as a way to get out of debts.

Also be interesting to see who buys the Kurouni assets, would try be able to or want to buy it.

Them's the breaks, feel sorry for those that have lost more than they could afford to lose. It's a reminder that when it comes to speculative stocks, don't invest money you are not prepared to lose