No Trades yet today, page-25

Sunday School
Couple of things..

LOM - I gather the drill grades/resource estimates have to be coupled with the feasibility process or JORC credentials in order to be classed as reserves & therefore contribute toward the total LOM bottOMLine.

The duration of exploration, over a couple of years some may say - drilling and grade estimates etc, without significant realisation or upgrades to the resource->reserves may invite speculation or other as to weather feasibility has been determined to any degree to date, whether or not publicised.

If it were deemed feasible, given the expertise on board, coupled with the duration of the exploration program, why is it not determined already that a feasible resource be where it is. Maybe it is already reasonably determined within the walls of expertise - why wouldnt it be?


Info for the masses...
The majority of high grade hits were underground level/40+ 70+metres if I recall correctly and this feasibility is surely questionable given water or environmental consistency, the land composition and the amount of water within it seemingly continously, the elevation of the landscape @150 metres above sea level(maXxX if I recall correctly), coupled with the availability of experience and resources with which to extract the potential value thus resulting in the tedious approach to date, although consideration given to the financial position (amongst other things).


Distractions & Extractions versa vice may be a couple of worthy comparisons..

- Extractions - of what is the primary or overall current objective at Karouni, out of the extraction zones is surely the focus $$G$O$L$D$$ (put em away ladies)

- Distraction - Australia was mentioned as an alternative target for future operations coupled with another, and tenament aquisition mentioned as of late. Mill expansion was a bit of an exception although bumfluff has withstood a greater force than that with which was & were blown of from whisp from the wall collapse debarcle/debris. Mention was of underground or sub-underground mining techniques but no follow info up has yet been offered, amongst others...
Anyhoe - maybe thats where the highish grades may come from to pull this all-wheel-drive chitbox out of the sand.( quite possibly+ proudly owned by fellow HC's TRY-hard contributors - who knows?).
Quite highish grades last reports*2 or 3 if I recall @ 3+ g/t - maybe a surprise lets see.

Heres to hoping the Annual Report due the end of August provides somewhere near solid indication of direction & planning to give scope for the target & calibration of expertise on-Board.
To point out the positives of the last three quarters as a measure of management meeting forecast target is a confidence builder.

Chalk & Cheese
There is a difference between meeting set targets which are set acheivements as the time passes which are a tick in the box, and a plan to meet a target - being 8million bucks- this September quarter or "paying all bank debt by Dec 2018".
The difference is that one is accomplished whereas the plan is not.

Troy has a recent history of not meeting its plans or set objectives & to assume success this quarter in the face of the decreased gold price, the last report cash & equivalents(@ $200k when considering the 5mill Investec obligation), an increase in repayment amount, the increased AISC or @$800 p/oz denies not only the period prior to the past three quarters mis-direction but the obvious @$400 margin available in practical terms $8 mill = 20,000 oz * $400 - thats after the 9,000 hedges cancel out.

@29,000 oz Sept quarter?
Any feedback or fairdinkum assessments appreciated...

Go the Troy Management
Go the Gold Price...