Ann: Voluntary Suspension, page-159

illiquidity?!
Not mentioned at all at the AGM, No change to guidance at the AGM only afterwards,
Chairman Stern specifically stated that he has not had to field liquidity/solvency issues for over 12 months now (so that includes to the AGM).

The CR and cashflow is being used to fund the road/bridge and Tallman drilling to fasttrack it to production asap, this idea was discussed many times at the AGM.

The Investec loan is at a 3 year low of U$8.19M
They had according to kojak $5M above that and in Q1 14.6M cash & bullion plus $5M on the refinery pad and 3 months ore or $15M on the stockpile at least plus $2.5M CR cash just received.

If they had a liquidity issue it was in 2017 when secured debt was U$25M, TC debt was U$31M & margin was only +U$20peroz! Yet even then they didnt call a CR nor loan deferral as they saw the high grade smarts 3 roll in at strong FCF (smart move).

TRY are very good mine managers and operators, proven over 15 years in a row now.
If they hit liquidity or cash crunches they just mill higher grade ores or the cheaper stockpiles, defer the loan and TC as before.

None of this speculation you two talk of was discussed at the AGM or in any way implied.

TRY liquidity, balance sheet, net free of secured debt (15M-10M) and FCF (A$11MpQ) is better now than the last 3 years. Until guidance changes on that its already priced as an explorer of low grade ore with no mill or high grade mine.

TRY will FLY!