cash balance ...... all very good but not really relevant if you burn through that cash quickly. Thats why BEING PROFITABLE AT CURRENT PRICES is so important.
I believe that TRY ticks all these boxes or will very soon with the ramp up.....
BUT The only problem as I see it is that the life of the new mine in Brazil is only 5 years. THEREFORE for TRY to still exist in 5 years it needs to explore and find new gold assets (I am like the market, assigning no value to the iron ore assets here). So a certain amount of exploration expenditure is assumed by the market, which means burning cash at CURRENT PROFITABILITY.
I think once Andorinhas starts producing the cash flows projected , and those cash flows can be directed towards exploration without reducing the all important cash balance, then the market will re-rate
TRY Price at posting:
75.6¢ Sentiment: Buy Disclosure: Held