Can add a little to their exploration comment around Andorhinas. The company was obliged to hit the exploration very hard last year to comply with some of the permit & JV deadlines. No success. But worth noting, the hunt so far has been equally driven by the administrative deadlines in individual areas, as much as the geological priorities in the line of strike or possible parallel lines.
The company has given themselves 2 more years for near mine exploration. If nothings found by then, there's nothing more to find - apart from determining the final depth of Mamoa.
Unlike Mamoa, they’re looking for deposits with no surface outcrop evidence. Deposits which haven't been partially mined by the locals. They're harder to find. Of course, the benefits of any success are magnified given the infrastructure already in place.
Don't know the chance of success, but personally any good find would be a huge bonus and maybe worth something like a lotto win. Given Troys past performance, I fancy the chances of a good find are a damn site better than those odds.
Regards PE
TRY Price at posting:
82.9¢ Sentiment: LT Buy Disclosure: Held
