Sven Tegeler and Michael Rodrigues might be names to search for.
Latest news I have is from end of 22.
"He stated that under the leadership of new Opera-tions Manager, Michael Rodrigues, they are working to install high level improvements around the plant and operations. From the corporate side of the business, re-capitalisation is complete but work is ongoing to acquire other financial instruments. Tegeler said that they are seeking a capital investment of US$10M. Also, there is a collaborative project with several agencies to return Troy Resources to the Australian Securities Exchange (ASX), Tegeler said."
Probably a lot of work out of country and financing is somewhat hard it seems.
I was quite surprised some guys over here were ready for another round of financing. Selling the unallocated shares from last re-capitalization at the same price or doing something completely different, not involving common stock issuance, are the only ways forward.
I also wonder about the stakeholders. 20m in debt retired. Trade debt might actually just have been royalties owed, wonder if they are interested in getting the project running, especially when the "debt"/refunds they owe to Troy seems to not have been settled.
And forget Barrick. They never even tried, all they did is a better form of scout drilling, you cannot expect to find elephants when you do not step up exploration beyond the scope of a junior.
TRY Price at posting:
3.0¢ Sentiment: None Disclosure: Held
