- Troy Resources, a gold miner with over 35 years of experience has acquired, explored and developed five mining operations in Australia and overseas
- Troy’s well-renowned management with extensive experience across the mineral project value chain is committed to generating values for its shareholders
- Exploration program is in progress at Karouni to upgrade reserves and resources
- Cash and bank deposits stood at $5 million as on 30 June 2020
An experienced gold miner with a strong background of developing five world-class mining operations, Troy Resources Limited (ASX:TRY) is advancing on the gold mining operations at the flagship Karouni Gold Mine in Guyana.
Mission and Values of the legendary gold player
Founded in 1984, Troy Resources holds a strong reputation for acquiring critical mineral projects and accelerating their development to ensure reliable and robust mining operations in Australia and overseas.
The Management Team is heavily involved in driving the growth of the Karouni project by trying to achieve robust operational performance and conducting extensive exploration programs such as the recent eight hole diamond drilling campaign at Smarts underground to strengthen the future potential of the gold mining operation further.
With the strong heritage of aggressive exploration and development, Troy plans to further strengthen the portfolio with mineral reserves exceeding 1 million ounces and an annual production of 100,000 ounces over a long life of mine (+10 years).
Let’s get Acquainted with the Management at Troy Resources
Amid skyrocketing gold prices, Troy operates the Karouni gold mining operations over 849 square kilometres land package in the prolific Proterozoic Greenstone belt. Come, let’s meet the team-
Mr Peter A. Stern serves as the Chairman and Non-Executive Director since 16 June 2017 and is also the principal to the Metropolis Corporate Advisory Services. Mr Stern holds over 33 years of extensive experience across general and strategic advisory, mergers and acquisitions, transaction structuring, divestments, and business development. Mr Stern also serves as the Non-Executive Director of Anglo Australian Resources NL.
Mr Stern holds a bachelor’s degree in geology from the Monash University and a Diploma of Finance and Investment from the Securities Institute of Australia. Mr Stern is also a fellow of the Australian Institute of Company Directors. Prior to the formation of Metropolis in 2000, Mr Stern held key senior positions in corporate finance with Macquarie Bank, UBS and Deutsche Bank.
Mr Ken Nilsson joined Troy in the year 1997 as the Executive Director of project development and was re-appointed as Managing Director in June 2017. Presently, Mr Nilsson serves as the Chief Executive Officer.
Mr Nilsson is a seasoned mining engineer with over 35 years of experience across mineral project construction and operations globally across gold, coal and base metals.
Mr Nilsson has been responsible for the construction and development of Troy’s Western Australian operations at Sandstone and later at Sertão Mine in Goias state in Brazil. In 2007, he led the relocation of the processing plant at Sertão operations and the development of Andorinhas Mine in the Para state of Brazil. Furthermore, Mr Nilsson managed the development of Troy’s Casposo operations and presently, leads the operations at the flagship Karouni gold project in Guyana.
Mr John Jones serves as the Non-Executive Director since 27 July 1988 and holds over four decades of extensive experience at publicly traded mining companies. Mr Jones served as Chairman from November 1988 till 3 October 2008. Mr Jones oversaw the transition of Troy from a Western Australia based junior explorer to a dividend-paying significant gold producer with operations in Australia and overseas.
Mr Jones is a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Company Directors.
Mr Jones is among a prominent player in the gold mining industry with extremely successful stints. In the past, Mr Jones founded and served as the chairman of Jones Mining Ltd and as Chairman at North Kalgurli Mines NL. He also holds a directorship position at Hampton Transport Services Pty Ltd, a private service provider to the mining industry in Australia.
Mr Richard Beazley serves as a Non-executive Director at Troy since 3 October 2018 and holds critical industry exposure as a mining engineer spanning over 30 years. Mr Beazley has a strong corporate, operational and technical background across the mineral resources industry.
He holds a Master of Business Administration from the Deakin University and bachelor’s degree in mining engineering from the University of New South Wales. He is also a member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Company Directors.
In the past, Mr Beazley served as the interim Chief Operating Officer of mining behemoth Sandfire Resources NL (ASX:SFR) and as director of the Altair Mining Consultancy. His previous stints also include serving as the Managing Director of Peak Resources Limited, General Manager Operations at Consolidated Minerals and as the General Manager of the Southern Cross Operations at St Barbara Limited.
Financial Report Update for FY 2020: Troy resources recently published the annual financial report for 2020 reporting revenue of $56.3 million with sales of 23,726 ounces of gold with capital expenditure totalling at $15 million.
Troy highlighted that an accident at the mine site affected the operational performance during the December quarter. The gold miner holds cash and bank deposits of $5 million as on 30 June 2020.
Troy Resources closed the trading day at $0.100 a share on 4 September 2020, with a market capitalisation of $61.94 million.
All financial information pertains to Australian currency unless stated otherwise.