It shouldn't be too long imo before TRY gets a positive and substantial rerating as an iron ore producer with production expected in the first half of 2009.
I have posted earlier today how TRY's technicals are turning around. With about 90 cents a share in cash, no debt, and only around 70 million shares on issue, TRY appears massively oversold imo.
From TRY's 29th. August ASX release:
from 4E:
"Troy is making good progress with its objective of commercialising the iron ore deposit on the Andorinhas leases. Troy expects to publish a resource statement within the next two weeks. Discussions with potential customers are going well and first production is anticipated in the first half of calendar 2009. Once production commences, Troy would look to extend the iron ore exploration to quickly add to the resource base."
"We remain on track with our iron ore project and anticipate first production in the first half of calendar 2009. Once up and running at full capacity, we estimate the iron ore should be of a similar magnitude in terms of revenue and margin as the gold operation at Andorinhas. Essentially it would be "equivalent" to another 50,000 oz of gold or, if considered a by product, make the gold production at negligible cash cost."
TRY Price at posting:
$1.71 Sentiment: None Disclosure: Held
