Originally posted by Justis
TRY was on schedule to have the investec loan paid off by the end of this year, that has been renegotiated so will occur in March next year.
IMO it was a prudent idea to renegotiate and hold off the last of the loan payments and instead allow funds for some much needed drilling.
As for the creditors, while that has been to high it's quite normal to have outstanding creditors and if anything it would be unusual to have $zero creditors.
My concerns with TRY remain the same
1. cashflow is tight ATM and any major problem with the mill would be a big blow
2. LOM is way to short ATM, that is being addressed as we speak
I do believe Kurouni has much potential and the abundance of artisanal workings in the area is proof that there is plenty of gold there. However I would suggest that the big ore body we want/need to find will be down deeper and that is a bit harder to find
Maybe the big ore body is deeper. But harder to find? Likely below Ohio Creek open-pit ore. Apparently at the AGM my rough estimate of open-pit mineable ore at nearly half a million ounces was confirmed.
Well, it seems many investors still do not understand what that means. At these grades that half a million ounce deposit is economically as much worth as the average multi-million ounce deposit. Cash costs will be something like $100-200 and with the road, royalty etc. AISC will be below $500. A company maker. If exploration results confirm this Troy will be a ten-bagger.
The deeper deposit that is likely to be located right below that is a different story. If you read my previous posts I wrote potential to be a ten-bagger and then again.
The market is just sleepwalking and not recognizing the potential. I have experienced that once before nearly 20 years ago. When I did research on a lot of junior mining/exploration companies and decided against one, because it looked too good to be true. The name was Goldcorp. I won't make a similar mistake a second time.
Ohio Creek near-surface ore is high grade and has a mining permit. Mining that will not exhaust Troy's growth potential at all. The larger deposit will lay below that. Why should it be different? There is a large deposit below Smarts and a large one below Hicks. The big difference is that the grade at Smarts is 3 g/t making an underground mine marginal or slightly profitable. A possible underground mine below Hicks may happen one day when the gold price is way higher (2 g/t). The grades at Ohio Creek mean there is no question if there will be an underground mine (but be careful because there is no drilling at depth yet, so I am only speculating).
All we have to do is wait for the next set of drill results.
