i want to buy small cap gold stocks, page-26

The way I see it TRY:

TRY announced a loss of $17.6 for 07/08 compared to a profit of $20.1m in 06/07. TRY's board apparently views 2008 as an "anomoly" and persisted with a dividend (its 9th consecutive cash dividend payment) of 3c (fully franked). However, this compares with 7.5c in 2007.

The gold produced in 07/08 was approx, 40K ounces. In comparison, they produced approx 105K in 06/07 and about the same in 05/06. Sales revenue decreased significantly due to this and capex blew out to $21m ($4m in 06/07). The mines in Brazil and in WA have reached the end of their lives, and the constuction of Andhorinhas (iron ore is not a buzz word atm)). Continued exploration has cost them a tidy sum.

Production as been forceasted to stablise around 50K ounces.

With approx. $60m in cash, this represents about 80c per unit. Yesterday she closed at 70c. Also she is not hedged and is not in debt.

She may be on the acquisition trail also IMO.

Apart from the global macros, this is why she has dropped IMO.