We will know in the next quarterly report if their cost cutting has been successful in restoring profitability in the new low POG environment.
Last quarter TRY/AZH were cashflow negative. Hence the need for activating the Investec loan facility. Casposo needs to generate a large cash surplus to fund activities in Guyana.
Clearly they will need to fund the Guyana mine from additional borrowings.
That was a pretty uninformative presentation at DnD.
Some nice drill results announced today - but the market already knows there is economic gold in Guyana so not much response, I suppose.
The goldie market could remain frustratingly tepid for another year.
loki
TRY Price at posting:
$1.30 Sentiment: Hold Disclosure: Not Held
