Ruffer LLP has a 10.7% stake in Troy.
My guess is they're pretty savvy and a good party to have on the register.
I say this because I've been watching the way they've been managing their stake in another ASX listed gold miner - Silver Lake Resources (SLR).
Ruffer became a substantial SLR shareholder in 2016 with a 6% stake and continued to build their position to almost 10% over the next year or two while the SLR share price languished well under $1. I'd guess their average entry price for SLR is around 30-50c.
This year, with the SLR share price heading over $1.50, Ruffer has started to lighten its SLR holding.
Buy low, sell high. That's what Ruffer has done / is doing with SLR and I'm sure their game plan with Troy is no different.
Disclosure: I own SLR and, like Ruffer, I've had a great run with them since 2016. And I'm also hoping to repeat the story with Troy. I think there are grounds for cautious optimism but, as always, time will tell.
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