Troy releases Financial results for FY20, Focuses on Exploration at Karouni Gold Operations

Troy Resources Limited (ASX:TRY), an experienced gold player, released the Annual Financial Report for the fiscal year ending on 30 June 2020. Troy produced over 23,580 ounces of gold in FY20 with least gold production from the December quarter during which the mining operations were temporarily ceased following an accident at the mine site.

Despite the pandemic, Troy ensured that the critical supplies remain unaffected by reduced freight flights into Guyana and gold produced continued to be transported to the refinery in Canada.

Here are the major key highlights from the financial report-

  • Revenue - A$56.3 million
  • Gold Sold - 23,726 Ounces
  • AISC per oz (AuEq) - A$2,582
  • Exploration Expenditure – A$7 million
  • Capital Expenditure - A$15 million
  • Cash and Bank Deposits - A$5 million
  • EBITDA - A$(4) million

On 28 August 2020, Troy Resources traded at A$0.115 a share at 01:26 PM AEST, with a market capitalisation of A$75.85 million.

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