Not the case at all, remember Smarts and Hicks was 1.2m ounces when they started with the underground resources seeming a sure bet. Did not turn out that way because Smarts resource had been defined with wrong parameters. Now the same seems to have taken place at Guyana Goldfields and they included underground in reserves which alone could mean half of resources is going to vanish. Also the Troy plant is quite small compared to theirs. Certainly the question to justify the plant is illogical because it is sunk costs and the market is not putting any value on the plant. The last report showed Troy had 27 holes from campaign phase 2 outstanding. That is because the drill holes had not even been drilled yet. Waiting for 18 drill hole results means they managed to drill at least 18 of the missing holes. I think the lab will be faster now than over xmas. But what to expect? Excellent results of course. But really just more of the same. I am more interested in the diamond drill results. Maybe Troy can drill one or two holes and publish the results before the SPP closes. Remember that Troy will not need the lab for diamond drill results as long as you are just interested in local geology and measurements without the grades.
TRY Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
