As has been mentioned previously on this thread by others, Integra (IGR) is a possibility - not for a 'takeover', but as a merger.
IGR has an undeveloped resource and significant exploration upside. Troy has the cash and cashflow from current production at record prices.
TRY's sp may be being held back by both the lack of a long term resource (currently only 5 years), and the fact that 50,000ozpa isn't a huge production profile. Possibly also by the fact that all their current eggs are in Brazil...
So, it would seem a good fit - geographic diversity, cash, production, exploration, and I would suggest a similar conservative management culture.
As a holder of TRY, I believe TRY is currently more undepriced than IGR - in the current market, cash and current production has greater value than an undeveloped resource. So i would hope for better terms for TRY than 1 for 1.
But having said that, the sum of the two entities would be greater than the companies individually. The increased size may also bring new corporates onto the registry, increasing the price and the liquidity..
Just my thoughts.
disclosure: hold TRY, but also a fan of IGR and their Salt Creek potential.
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