Just briefly - Troy management/directors at the time from...

Just briefly - Troy management/directors at the time from feasibility through to quarterly production were forecasting Karouni 100,000 ozau p/a and 25,000oz per quarter. For the first quarter or thereabouts production and grades were somewhere around there and acceptable and then consecutive quarterly reports producing less & less due a few factors, grades being a fair contributor- got some noses out of place. It was reported eventually that there were issues extracting the gold from the clay materials and it was rough on the gear, the weather was particularly nasty, there was mechanical or teething issues and the AISC was nothing like the feasibility presentation provided to investors and that still stands to a degree if you care to check it out. On top of that, what really dessimated the share price was the wall collapse which occurred concurrent to the production levels not being sufficient to cover debt/expenses whilst management sought fit to continue exploration (additional expenses) with no ability to pay current expense/debt as I see it, without going external to the market/cr or restructuring the loan facility which involves additionalaexpenses and the resulting downward spiral effect, with all that there was a controversial disposal of a reasonable portion of a directors share holdings, coincidentally between the time of the pit wall collapse and the announcement to market or circumstances very similar, which any reasonable size investor or any investor really, interprets in such times as red flags or acts of little regard to anything but self preservation. There were a lot of overheads from upper level management/directors and it was just heading south.
All that said, there are still issues that need addressing. It is seemingly fairly fortunate that Troy just scraped by the past 4 quarters to where it is now without additional external funding if you look closely at the figures it's there to see. There are arses hanging out of jeans all over the place with the seamstress sewing frantically to keep those arses intact, smoke coming from the pedal and needles being replaced that fast that she's opened up her own recycling plant.
Anyway go the gold Price