Hi all, fond this in... (good to let others in on the good news)
Around the Traps ... with THE FERRET 08:00, Friday, 7 May 2010
Sydney - Friday - May 7: (RWE Australian Business News) -
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TROY RESOURCES (ASX:TRY) had good news but all the shares managed was a 1c rise to $2.36. It has completed a review of the mineral reserve and key production parameters of its 100pc-owned, low-cost, high-grade Casposo gold and silver project in San Juan Province, Argentina. The updated mine plan will see 320,800 ozs of gold and 9m ozs of silver produced over the six-year mine life, representing 19pc more gold and 67pc more silver than assumed in the previous 2008 study. CEO Paul Benson said, "Whichever way you look at it, Casposo is going to be a low-cost mine, with average cash costs of $120/oz after silver credits are factored. "When combined with the reduction in the pre-production capital we announced last year, it is clear to see the Casposo project is significantly value-accretive for Troy shareholders, offering an internal rate of return of approximately 75pc, and this is before any further exploration success." The shares went as high as $2.86 in November.
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TRY Price at posting:
$2.31 Sentiment: Buy Disclosure: Held
