Old news on a Guyana website regarding the workers layoff in July. The news report a circular issued by the mine manager.
There is a part reporting strong potential sustained minimg operation at Karouni.
"Connors used the occasion to disclose that “we are working to progress with the development of the SMARTS Underground project and are evaluating an expansion of Hicks pit to access deeper portions of the ore body.” He said too that “additionally, we are continuing to explore within Troy’s vast concessions and have recently signed an agreement with Barrick Gold for them to explore on part of our concession.” He posited, “in other words, there is a strong potential sustained mining operations at Karouni; this shutdown is to allow the time to do the exploration and evaluation necessary to support a restart of operations.” Conceding the news of a shutdown would be met as a surprise, and in fact upsetting for all, Connors sought to explain that “this was not a decision that was made lightly but was a necessary one in light of the current business situation.”"
TRY Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
