Ann: March 2018 Quarterly Report, page-81

volume has dried up completely, sellers have dried up. Capper still low volume capping.
Nothing to see or sell at this very cheap level.

TRY has reported the best results in its history at Karouni even better than when it was at 32c-75c in 2016 and Q4 looks to be the same. Could they please report their April results? Wet season is upon them May - June and they have a ripper Q3 & April behind them with 2 months stockpiles.

If they reported April results it would likely show -
production 7koz
sales 9koz
AVRP U$1345
AISC U$650
revenue U$12M
costs U$5M
Cashflow +U$7M

Looks like they have also advised us their long term plan with the CEO Nilsson stating in the Q3 report -
- "ongoing improvements and stable mining and processing conditions"
- gold production guidance for 2017/18 increased to 65,000oz to 70,000oz (2 months left)
- repayment of loan on schedule
- “The reduction of amounts outstanding to suppliers is also ongoing and progressing well"
- “The All-in-Sustaining-Cost (AISC) to US$720/oz during the quarter reflecting both the benefits of the cost reduction campaign that has been ongoing for the past 6 months and the higher production level.
- continued ore stockpiling
- continued exploration with Spearpoint and Larken Prospects returned some excellent results
- broader exploration to "re-establish exploration areas where there have previously been good mineral intercepts, particularly in the Goldstar area. In addition, Troy is looking at other opportunities in the Karouni area with known gold occurences"
- additional drilling to upgrade the mineral classification during the June quarter.
- review of Ore Reserves and Mineral Resources with the immediate intention of upgrading the Larken resource and bringing Spearpoint into a JORC compliant resource category.
- " The aim is to establish a strong and focussed programme to increase ore reserves.”

What this tells us is that the finances are strong and stable now, LOM extended & reserves boosted plus more great drilling results are impending and they are there to stay long term.

Q4 will be another good production result at even lower costs especially if they process the stockpiles at U$400 per oz (mining/milling already done).