COMPARE TROY TO BLK BLACKHAM RESOURCES LIMITED, page-7

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peak2peak

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11/09/18

17:38

Post #: 35529044
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Originally posted by Samboy69 ↑

its chalk and cheese.

BLK v TRY (in US$) :-
equity - 1260M v 440M
AISC - 1147 v 895
AVRP - 1246 v 1308
Q4 margins U$100 v U$413 peroz (with GP at 1210 now at 63 v 315 !)
Q4 production 19400 v 19510
Production annualised from H1- 80048 v 82426
FCF - $1.5M v 7.8M
Cash & bullion U$18M v 5.8M
Head grades 1.4 v 3.19 g/t
Secured debt - 24.6M v 11.19M
Market cap 58M v 62M

Whilst looking at production, market cap or cash, you can easily be misguided in the comparison.

TRY has triple the grade, quadruple the margins & cashflow, 25% lower costs, half the debt, a third of the shares/way less dilution.

At current spot price of 1210, BLK is a marginal high cost low margin producer but TRY is now the exact opposite with 5 times higher margin than BLK.

Compared to BLK, then TRY is the lean mean low debt high grade high margin high cashflow machine,
And TRY has the underground mine & the proven guyana shield gold region surrounded by 5M-10Moz deposits/mines.

At that Market cap assuming BLK is fairly valued, TRY ought to be at 35c like DRM is at.

You surely jest!

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from an ex BLK holder , chalk and cheese is putting it mildly. BLK need a higher gold price to survive.
What bought me here is the Guyana news. One of the better countries to go mining, the only downside
is the lack of infrastructure. Got to tick of management , I presume holders are happy with them ?

TRY Price at posting: 10.5¢ Sentiment: Buy Disclosure: Not Held
1 Upvote

0 Great analysis

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