It is sympomatic of the malaise of the market. Anything that is not generating a profit NOW is not accorded much future value by the market. Regardless of the in situ value of the gold.
I believe TRY is profitable now. It is just that because the last couple of cashflow reports have been neutral it is not being recognised yet. Once they demonstrate they are cashflow positive I suspect they will be rerated.
Look at SLR on the other hand. As they are producing and cashflow positive now, the market is being much kinder.
I know, it makes little sense to place little value on in situ ASSETS, and only value INCOME, but such is the present situation.
As for IGR (which I also hold)... A merger may have made good sense, but I also doubt a merger would have been treated any better by the market than TRY's Casposo purchase.
And the economic of the Casposo deposit look highly compelling. So I am not complaining.
Buy more.
TRY Price at posting:
$1.20 Sentiment: LT Buy Disclosure: Held
