Ann: Trading Halt, page-42

Some idle speculation on a Sunday night.

Interesting that the boss of Stavely Resources, Chris Cairns, was in London a week or two ago looking for a cornerstone investor. Stavely is hoping to hit an elephant in a possible porphyry gold and copper find in western Victoria, is a pure exploration play and has a market cap of $40-50 mill. According to a hc poster who listened into an interview given by Chris Cairns last week Stavely was not able to close the deal.

Now kojak indicated on Friday that the chairman of Troy, Peter Stern, was in London also apparently looking to snag an investor to take a relatively sizeable stake in Troy, and the suggestion was that he had closed the deal. That is yet to be confirmed by Troy but we should know one way or the other in the next day or so.

London is a big place with deep markets but I wonder whether the two gents were pitching to the same investor (?). Remembering that Troy has a similar market cap to Stavely (but with a lot more debt), has a working plant and mining operation and is situated amongst a number of multimillion ounce discoveries perhaps the risk profile of Troy sealed the deal.