Hi All, IMO! TRY's Guyanese operations are geared to become their major asset as the other South American operations approach the end of their profitability. Karouni is shaping up to be a relatively limited resource with maybe 4 years of useful life. A MC of about $150 million looks to be on the optimistic side unless TRY is successful in exploration of the prospective greenstone belt which includes the Karouni deposit. If results are unfavorable TRY's future looks dismal. Exploration won't be easy, the prospective belt is veneered by sand cover and decomposed rock. Surface geochem therefore isn't likely to be of much use., unlike parts of Africa where surface geochem works like a charm. Structural interpretation is therefore a major weapon, and I presume aero mag would provide most info.In regions near the magnetic equator [such as Guyana] well defined magnetic markers are a prerequisite . TRY must replace the resource as the mine is depleted. An increase in the GP would be a Godsend but the most likely scenario is that the GP will fall when the Feds raise US interest rate in the short term Gold has become range bound and, IMO, is most likely to drop below the low of US1000/oz. as confidence in the US's economy gets a boost. {whether justified or not]. US rates look certain to rise whatever the gold buffs think! A MC of about US$90 million looks about right . BOLTA!
TRY Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held
