A long time since my last post where I was calling for a change...

A long time since my last post where I was calling for a change in management and board. I think the mis-management of the mining operation of late unfortunately justifies my call. The MD is taking things into his own hands now - I don't expect that will make any difference - he and most of the directors should fall on their swords now before things get even worse.

As for the exploration update I am more enthused. Although it is called brownfield exploration most of the drilling meters were in "greenfields targets". So they were in fact testing for the right stratigraphy (high MgO basalt), structure and mineralisation. So the Goldstar drilling was definitely encouraging given the evidence all three. Now TRY needs to establish continuity of the structure in the right stratigraphy and areas that are permissive for higher grade lodes. This also applies to the Mirror target (less exciting at this point though).

The extensional drilling at Karouni and Hicks was less compelling. I would like to see a few more sections in the exploration updates to show that the geologists understand the geology (I am not sure they do?) and demonstrate the target. It seems they might just be drilling extensions without having a well thought out target.

Drivers for the share price (apart from gold price) are as follows:

1. resignation of MD and replacement with someone of better calibre (plenty available)
2. resignation of KN and replacement with someone that has a strong discovery track record
3. continue to explore aggressively - although I do expect the upside will not be as good we would like
4. get a consultant geologist to interpret the geology and look into the underground potential

If TRY doesn't announce at least 3 of the above within the next quarter - then I will sell my remaining position and retreat from what has been a terrible investment with my tail between my legs.