Ann: Completion of SPP, page-46

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Anatinus

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13/03/19

21:46

Post #: 37753451
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Originally posted by kojak78 ↑

It does not matter what shareholders think about it, clearly one of the scenarios will come to pass.

The Casposo option for another 10% (out of 30% still belonging to Troy) is due end of March. Either Austral is buying or they forfeit the 10% forever without any chance to get 100% of Casposo ultimately.
Casposo has it's problems. Austral seems to be willing to turn it around as can be seen by the multi-million US$ solar power plant investment. So it is not out of the question.
If you were the government of Guyana collecting $2-$3m per quarter in royalties... you certainly would want the company to continue mining. While unpleasant I think Troy will muddle through.

As for your attacks against management... you want to remove John and Peter but keep Ken? The same scenario as last time? Good luck with that. The guys earning significant wages are Gerry, Ken, two guys in Guyana and somewhat less Peter. John is only collecting token amounts.
Who would want to take on those "lucrative" jobs with the risk of financial failure staining your cv? When Stacey stepped down back in 2017 my concern was that Troy would be unable to find a new company secretary / CFO. I think John was responsible for getting Gerry to join. It would have been game over without Gerry and without John. And John is collecting 72000 per year for that.

Anyway, our duty as shareholders is to be responsible and I think your proposals would fail current shareholders and maybe even endanger the survival of the company. Bad idea to call for change during the most critical phase financially.

A valid point might have been to call for directors buying on market. i.e. Peter and Ken.

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I don't think austral are going to take up their 10% at this point in time Kojak, that Argentina guy has deep pockets if he really thought it was worth owning 100% he would have dug the million odd from under his couch.
its going to be a business play thing.
Run the silver mine at losses or bugger all profit each year and string TRY out for ever and a day.

TRY Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
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Ann: Completion of SPP, page-46

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