I wasn't aware of that option to sell the stockpiles. Fair enough - good call I guess. I figure they sell that to a market rather than sell the physical material itself? How does that work anyway nevermind. Who buys unprocessed ore at market prices to. Sell it for a quick fix if possible I'm in.
The stockpile at last report end June - 1 month ago was @9,000 oz estimated , 167,000t & 2 months processing. As capacity is @ 250,000t p/q MaX to date anyway if I recall correctly, so leaves @ 1 month or so to process & extract @ 16,000 oz? Yer right...
Even an equivalent additional amount/double at the same estimated grade would only provide 18,000 oz and half of that is hedged out. Granted the remaining 9,000 oz at 400 AISC gets to @ 8 mill AUD give or take a few bob but the problem there is the processing of the over 300,000 tonnes for the quarter which likely is just not going to happen - extreme example sure.
So relying on the high grade smarts pits to put out output is @ the only option I can see after all the enlightenment given the Investec option is scratched off of my planning schedule. The AISC may be swindleable or deferrable if that's a fair enough dirty deed done dirt cheap, and I am all ears.
The $3.9 mill GIC is somewhat neutral & matters not if sold or otherwise as I see it as it currently makes up the $5 mill liquidity obligation to Investec and will just need to be replaced by another $3.9 mill value - obsolete to this quarter.
To defer the operations creditors is likely the way to contribute to the Banking repayment and that's the crux of the swindle I guess although it still likely will require high grades and constant/consistent processing without the delays experienced last quarter.
What does it really matter what the share price is day to day? No dividends, no additional shares added nor reduced/no dilution, what is the difference what the market value is;
share price * # of shares = ?
Personal equity fair enough, flick that bean - whatever.
Positive progress within the enterprise is of equivalent value/greater substance than a fluctuating shareprice surely.
It provides the exit opportunity of course but this company is way off any reasonable exit opportunity as I see it & therefore day to day even 20%+(extreme % but f/all really) fluctuations are irrelevant to the progression of Troy.
Now that's sorted for the moment that market cap/peer comparison, shareprice fluctuation & upward movement is irrelevant to the internal workings of the organisation and progression
() , coupled with the fact that Troy is required by obligation to maintain a minimum of $5 million liquidity in the kitty whenever Investec is in tha , going off of July stockpile advice of <9,000 oz - square hedge, I am personally of the opinion that it is a requirement of Troy to produce highest grades ever and highest production ever to avoid the WOI -
Wrath Of Investec.
Love Investec I don't mind, won't hold it against you they did their bit ok good.
F-R-E-E-D-O-M-M-M-M
Go the Gold Price
TRY Price at posting:
13.0¢ Sentiment: None Disclosure: Held
