From The German The Gold Report
—— Troy Resources Ltd .: The next good results
immediately translated into English
Troy today announced the next set of drill results from the newly acquired Ohio Creek gold project near its own mine. The best results were 2 meters at 39.56 g / t gold 2 meters at 8.64 g / t gold or 5 meters at 13.94 g / t gold. The results are not quite as good as those of the first holes, but convincing in my view.
The grades are good and the mineralization is open in all directions. Drilling is continuing and Troy Resources is currently awaiting the evaluation of another 30 holes in the field. If you take a closer look at the individual holes, the potential becomes clear. Let's take a look, for example hole no. 025.
With the bore No. 13 the extremely good hit of 9 meters was landed with 40.52 grams. Now Troy was able to find 2 meters at 7.22 g / t gold. This vein is still untested in the near-surface area and could also be open at depth.
No wonder Troy is currently pushing the tube there. The second round of drilling is under way and the third round of drilling is already in the planning phase and should start as early as February 2019.
In addition, Troy has already taken the first steps to transport future Ohio Creek ore to their own plant. For this purpose, the road must be improved and fixed, as well as a small bridge. With this, Troy wants to start in January 2019!
In addition, an application for a dismantling license is already being prepared in order to submit it:
—— Outlook, evaluation and conclusion:
Management has hit the jackpot with the acquisition, and if I look at all the next steps that are being taken now, then the company seems to be sure that Ohio Creek will be the next mine for TROY.
The market has not yet praised this find. This can be a good opportunity, as long as the parallel production runs according to plan.
On 31.12.2018, Troy will have to make a $ 4.192 million payment (approximately $ 5.8 million), leaving only $ 4 million in credit due on 31.03.2019:
At the end of September Troy had AUD 14.6 million (Gold and Cash).
Thus, payment at the end of December should not be a problem and Troy would thus continue on the right path to being a debt-free and profitable gold producer.
If the debt repayment goes according to plan, the mine continues to make a profit, and with the Ohio Creek area adding a potential source of ore, the current market valuation of $ 55 million seems far too low
Original Source
https://www.goldseiten.de/artikel/399143--Troy-Resources-Ltd.~-Die-naechsten-guten-Treffer.html
