Not sure what you are on about, this is not underwritten as far as I know.
Some of the biggest SH have indicated they will take on their full entitlement, we wait and see if others including Barrick do.
Question comes up is who of these biggest SH will also apply for additional share (Short fall), we will see if try puts out an announcement about the level of participation in the rights issue. If try extend the closing date that may indicate lower take up of the rights issue, if they don't extend the closing date, that would indicate a good level of take up of the rights issue and additional shares.
For my part, I have taken up all my entitlement and applied for additional shares to more than double what I would hold after my entitlement. LOL have not looked at what my average, do that after I find out if I get the additional shares.
Make no mistake this is highly speculative given I am taking up shares well before try are re-listed and we don't know if try will actually be re-listed.
But try is not just an exploration company, while exploration success is required in the medium to long term, there is a mill in place and more important proven/probable reserves of 89,400 oz au that can provide 2.5 years of production.
Smarts underground still has a lot more potential with close to 300k oz au in indicated/inferred mineral resources that could be turned up to probable/proven with more drilling in the near term.
GLTA
TRY Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
