Good posts, guys. TRY will be paying a dividend- they promised...

Good posts, guys. TRY will be paying a dividend- they promised in the Half Yearly:

"The Board of Directors has confirmed that the Company is committed to the payment of a dividend based on the full year results to be published in August 2013."
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So, that is that. Now, as to the quantum. There's a clue in the target/bidder's statement, on p. 16. Under a graph showing the dividend history, it says:

"For the year ending 30 June 2012, Troy’s gold equivalent production was 137,457 ounces and Troy reported a net profit after tax of A$31.4 million. Troy’s total gold equivalent production for the half year ended 31 December 2012 was 66,603 ounces."
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So, I saw that a a gentle warning that the dividend might be less this year, due to less gold production- at that time. perhaps the dividend could be 7c (a conservative guess). Should one halve that 7c to account for the 45% larger registry? The dividends are fully franked, so even if it's a few cents, it's not a bad deal. Other companies should go by TRY's example on dividends- 14 years straight is pretty good, but why don't other companies fully frank if TRY can?
AZH says they will have a PFS out by end of 2013, so it will not be a quick process:

http://www.azimuthresources.com.au/images/investorcentre_files/AZH%20TRY%20Presentation%2029%20May%202013%20-%20Latin%20America%20Down%20Under%2013%20May%20for%20printing.pdf

In looking at the price to build a mine, UML has it at about $80m, but has made some cost savings, so less than that. Cheaper to build in Uruguay than Australia?

As for the dividends, I hope TRY keeps them up forever- despite POG or capex or whatever. They have proved thrmselves, and their takeover of AZH is timely- they are quite lucky to have nabbed her, considering their other mines are running out, and for only about $100m- they could be laughing one year hence for this. If AZH keeps exploring, one could hope it becomes something of a PIR- high grade and profitable. Uruguay is in a good jurisdiction, too.

A waiting game, but POG will probably rule all the goldies. Having said that, TRY and AZH need to get news out soon- seriously.