Hard to imagine TROY was on the list of the top 107 ASX listed...

Hard to imagine TROY was on the list of the top 107 ASX listed companies back in 2008, and paying a 7.5c dividend (Top Stocks 2008, Martin Roth p99). When brokers say "Time in the market is what grows wealth" remember they are not saying "Time in a stock".
My expectation for Recapitalising is a share consolidation. Possibly even a 1 new share for 100 old shares. That theoretically puts the new shares at above $3 (not crash hot for current shareholders), but gives ample scope to raise funds for new investors. The success of such a move is totally dependent on the amount of gold in the ground and likely cost of extracting it. The good news from the announcement is that TRY was not delisted and put into liquidation. Barrick will be critical - and they know that.