I read this on the 23rd April in Guyana Chronicle Online –...

I read this on the 23rd April in Guyana Chronicle Online –

"Karouni Gold Project TRGI announces employment of 500 for construction phase" -

TROY Resources Guyana Inc. (TRGI), the Australian exploration and mining company operating in Region Seven (Cuyuni/Mazaruni), has announced that it will be employing some 500 people during the construction phase of its Karouni Gold Project.
A media release said the employer anticipates an eventual permanent workforce of between 250 and 300.
It said advertisements for management and technical positions, two weeks ago, had resulted in a very high response, which it found pleasing since the company’s aim, in the medium to long term, is to have a minimum of expatriates working in Guyana.

The release disclosed that the feasibility study for Karouni is to be completed by June and the programme is moving closer to full operation. More advertising for jobs will be done in June.

Meanwhile, the company said that direct commitments, to date, for the Karouni scheme, formerly known as West Omai, are in excess of US$15M and the construction budget is approximately US$87M.

The company said it recently raised more than US$30M by way of share issues and is completing documentation for a loan facility to ensure that the undertaking is fully funded.

TRGI has also purchased a number of pieces of equipment, including a grinding mill which is now awaiting transport to Guyana with expected delivery in May.

Karouni is wholly owned by TRGI since July last year, when the company concluded a merger with Azimuth Resources, a takeover ownership of what was then known as the West Omai Project.
Since the amalgamation of the companies, TRGI has put focus on drilling to update the resource estimate which was used for a positive preliminary economic assessment published earlier this year.

Troy Resources has proposed a medium-scale gold mine designed to produce up to 110,000 ounces of gold per annum based on an average overall recovery of 92% at the Black Water Creek, Kaburi Area, in Region Seven.

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Looking good for Troy in the next 6-12 months. GLTA

Disclosure - Been buying the shares in their recent lows, in their recent highs and again this week in their 90's - And loving it! Easy returns in months to come.