TRY 0.00% 3.0¢ troy resources limited

I smell a rat

  1. 3,200 Posts.
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    this might sound very sceptical but an interesting thought entered my mind this morning.
    Several weeks ago I watch an interview with TRY's onsite general manager for Guyana.
    This interview was done in conjunction with a story on outside companies having mining operations in Guyana.
    For me the 2 most interesting things that came out of this interview was Guyana(like most countries) is divided up into several regions and some regions are not well governed and are considered extremely dangerous to be mining in. Most regions are well governed and if you play by the rules, employ lots of local people and spend lots of extra money on funding schools, roading and the like, (TRY have done this) you should be fine.
    I believe TRY is set up in one of the better governed area's.
    However the GM did go out of his way to explain that TRY has recently employed some consultants and after taking their advice had decided to spend more money on securing the site (he did not go into details)
    The most interesting issue was a slight slip up from the GM when discussing the bold move to move TRY's major operations to Guyana...........I think his words went something like "it seemed like a great mining prospect at the time and the main driving factor was we could purchase the claim with the issue of shares rather than cash".
    When he said it seemed like a great mining prospect at the time it really did seem he was saying but we know different now.
    Just of note he also said the company had found the paperwork with officials was frustratingly slow in Guyana
    So why do I bring this up weeks later.........well TRY have recently announced a surprise large cap raise @ a very low price......the surprise was they were suppose to have all the funding in place already and they announced that much of the new funding was to further explore the Guyana site which is extremely surprising because as part of their pitch to investors, prior to the deal being made, they were selling it as a very well mapped out claim and it was site ready to put in the plant and infrastructure run lots of pay dirt and make millions.
    I think this surprise cap raise and GM comments confirms TRY have not ended up with a very well mapped site at all and more than likely the site is not the glory prospect they sold to shareholders 2 years ago.
 
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