Troy Resources Releases Its 2018 December Quarter Report

Troy Resources Releases Its 2018 December Quarter Report

Gold Explorer, Troy Resources Limited (ASX: TRY) has released its quarterly report for the December quarter.

The snippet detailing the key highlights for the quarter ended are stated hereby:

  • The Gold production for the December 2018 quarter came in at 14,227 ounces.
  • The grade of ore treated for the quarter was on an average of 2.2 g/t of gold, along with a recovery rate of 96.4%.
  • Sales revenue for the quarter was US$21.5 million from the sale of 17,712 ounces of gold.
  • All in sustainable cost (AISC) of US$1,141/oz for the December quarter.
  • The inventory for Ore at the end of the December quarter stood at circa 200,000 tonnes representing more than two months’ processing.
  • RC drilling results at the Ohio Creek Prospect released during the quarter comprises of the following:
  • Hole TRC001 – 10.07 g/t of gold was extracted from the depth of 2 m in a 16m hole including 1 m @ 93.78 g/t of gold from 2 m.
  • Hole TRC007 had multiple significant intersections including 23.34 g/t of gold extracted at 1 m from 37 m hole.
  • Hole TRC013 – 40.52 g/t of gold extracted at a depth of 9 m from an 89 m hole, including 6 m @ 60.1 g/t of gold from 89 m
  • Hole TRC025 had:

4 m @ 3.75 g/t Au from 67 m

2 m @ 39.56 g/t Au from 99 m

2 m @ 7.22 g/t Au from 118 m

  • Hole TRC026:

4 m @ 2.12 g/t Au from 90 m

4 m @ 3.67 g/t Au from 106 m

3 m @ 5.74 g/t Au from 123 m

  • Hole TRC028 – 8.64 g/t of gold was extracted at 2m from a 31m hole including 1 m @ 13.59 g/t of gold from 31m.
  • Hole TRC029 –13.94 g/t of gold was extracted from at 5m from a 34 m hole including 2 m @ 24.53 g/t of gold from 34 m.
  • Geotechnical event in Smarts 3 pit interrupted mining in October.

At the end of the quarter, the Company had total liquidity of $11.2 million, including available cash of $3.3 million and gold inventories at the market value of $7.9 million.

On 3 January 2019, the Company completed a share placement. No proceeds from the placement have been included in the cash balance as at 31 December 2018 as they will be included in the March 2019 quarter cash inflow.

The Company reached an agreement with Investec to amend the repayment schedule for its Syndicated Debt Facility. The Facility repayment schedule was changed such that the then remaining US$8.19 million would be repaid in January 2019 and March 2019, instead of December 2018 and March 2019 as was previously scheduled. The Company has repaid US$3 million in early January which reduced the loan outstanding to US$5.19 million.

Now let us quickly have a look at the Troy Resources’ stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $0.105 and is trading down by 6.25% during the day’s trade, with a market capitalization of circa $54.62 million. The counter opened the day at $0.110, which was also the intraday high & touched an Intraday low of $0.102. The stock has yielded a Year Till Date returns of 2.27% and posted returns of -16.67%, 13.64% over the last six months & three months respectively. It has a 52-week high price of $0.175 and touched 52 weeks low of $0.082, with an average volume of 996,949 approximately.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Top 25 Dividend Stocks report for April

People prefer a dividend stock in their portfolio as it possesses the feature of compounding. Compounding means that the earning which is generated through these dividend stock will get reinvested and will eventually create earnings from earning. More precisely, the dividend generated from these dividend stock will get reinvested to buy another set of a share of the dividend stock which results in giving a higher dividend.

Click here to download your top 25 dividend stocks report!

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report