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Articles by Troy Resources
Troy seeks to recapitalise and reboot trading on ASX
Troy resources is seeking shareholder approval for a series of agreements that would convert current debt into equity and raise funds to pursue its Smarts Underground project at its Karouni gold mine in Guyana and restart trading on the ASX. The company plans to convert approximately $18.7 million of debt to equity and issue shares at $0.022 to raise approximately $7.2 million to progress its South American mining operations.
Troy posts maiden reserve, set to advance Guyana’s first underground gold mine
ASX-listed Troy Resources has tabled a maiden ore reserve for the Smarts underground project at its Karouni gold operation in central Guyana. The company sees the 89,400-ounce reserve supporting production for at least 2.5 years while it explores for potential extensions. Mineralisation is said to remain open below the calculated reserve of 1,082,000 tonnes grading 2.6 grams per tonne gold.
Encouraging drill results spice up Troy’s Guyana gold project
ASX-listed Troy Resources has reported promising reverse circulation drilling results from its Gem Creek prospect, north of the company’s 100 per cent owned Karouni gold operations in Guyana. Notable shallow drill hits such as 1m grading 7.5 grams per tonne and 5m at 5.36g/t gold have been recorded over an identified 500m of strike with mineralisation said to be open in all directions.
Troy draws gold major Barrick into Guiana Shield gold hunt
ASX-listed Troy Resources has attracted global gold major Barrick Gold Corp into its large Karouni gold project in Guyana. A new joint venture agreement will see Barrick target tier-one gold finds in the southern part of Troy’s ground, including around the exciting Potaro prospect, while the Australian company continues to explore and develop in the north. ASX-listed Troy Resources has attracted global gold major Barrick Gold Corp into its large Karouni gold project in Guyana.
Troy lands key approval for gold development in Guyana
ASX-listed Troy Resources has edged closer to bringing its 288,000-ounce Smarts underground gold deposit into production at its 100 per cent-owned Karouni project in Guyana. The company has been granted approvals from the Guyana Geology & Mines Commission, or “GGMC”, to enable it to advance work on Smarts as it finalises a series of technical reports on the proposed development.
Troy adds hot Potaro target near Karouni
ASX-listed Troy Resources has increased its exposure to the geologically prospective Makaba Kuribrong Shear Zone around its Karouni gold mine in Guyana, snaring the “must have” Potaro target in a progressive land acquisition program that has expanded its Karouni holdings to 3,000 hectares. Potaro, about 20km south of the Karouni gold plant, was identified by Troy as a key pick-up two years ago.
Troy delivers high-grade gold boost in South America
Troy Resources has delivered more impressive high-grade gold hits as it looks to grow the ounces beneath its operating Smarts open pit gold mine in Guyana, South America. One recent 3 metre drill intercept graded 17.35 grams per tonne gold from 176 metres and the company managed to grow its gold production for the March by a whopping 75 per cent from 4,195 ounces in the December quarter to 7,333 ounces.
Troy steadies the ship at South American gold mine
Troy Resources appears to have steadied its gold production to “normal levels” at the Karouni gold mine in Guyana, South America. The news comes after setbacks last year revolving around the coronavirus pandemic, higher-than-average rainfall and a shortage of mechanical supplies. The Perth-based company managed to eke out 7,333 ounces of production in the recently completed March quarter compared with 4,195 ounces for the preceding quarter.
Troy teases out more near-mine gold in South America
Troy Resources has teased out further high-grade gold hits from the latest diamond drill holes at its Smarts Underground gold deposit which sits snuggly between its active Smarts open pits at the Karouni gold project in Guyana, South America. The last batch of assays delivered some good widths including 20m at 3.68 g/t gold from 212m and 13m at 3.64 g/t gold from 177m downhole.
Gold production boost for Troy in South America
ASX-listed Troy Resources is back on track at the Karouni gold project in Guyana, South America. Improved efficiencies at the Smarts pit have brought production numbers back in line with expectations. Drilling results from the Smarts underground beneath the current pit and the Goldstar deposit a few kilometres away are anticipated for release next week as the company looks to increase the current mine-life. ASX-listed Troy Resources is back on track at the Karouni gold project in Guyana.
Troy chalks up more solid gold hits in South America
Troy Resources has eked out more encouraging exploration results at its Karouni gold mine in Guyana where it has managed to keep the drill rods turning despite a recent spate of COVID-19 infections on site. The company, forced to pull its 2020-21 Karouni gold production guidance of 35,000-40,000 ounces due to the COVID-19 outbreak and shortage of various supplies, is now looking to build the project’s ore reserves position.
Troy steps on Karouni exploration pedal
Western Australia-based gold miner Troy Resources, which has become a South American specialist, is now stepping up both production and exploration at its exciting frontier site Guyana. Having navigated various recent obstacles ASX-listed Troy Resources is now setting a course to rebuild mill production and its broad exploration program at its Karouni gold project in Guyana.
Troy delivers more high-grade gold in Guyana
Troy Resources is serving up a feast of high-grade gold intercepts at Karouni in Guyana, with drilling over the developing Smarts underground deposit continuing to deliver strong results. The company’s latest two drill holes, designed to test the extremities of the deposit, have returned assays of close to 13 g/t gold, with wider intercepts including 4m at 7.08 g/t gold from 172m and 3m at 6.58 g/t gold from 111m.
Epic gold strike for Troy in South America
Troy Resources has hit the jackpot with a four-ounce-to-the-tonne gold hit in its latest diamond drill hole at the Smarts Underground deposit at its operating, million-ounce, Karouni gold project in Guyana, South America. In just one of 16 hits in the 449m deep drill hole, the company returned 11m at 131.93 g/t gold from 223m, including 1m at an ‘off-the-chart’ 1,176.99 g/t gold.
Troy bags multiple spectacular hits at South America gold play
Troy Resources’ Smarts Underground deposit in South America continues to produce outstanding results with the company confirming three ounce-to-the-tonne, or better, gold hits at its Karouni gold project in Guyana. The ongoing reserve definition drill program returned a first hole intersection of 1m going 57.60 g/t gold from 221m where it is already sitting on a one million-ounce resource estimate.
Troy joins million-ounce club at South America gold project
South American focused gold miner, Troy Resources, has crunched the numbers to upgrade the mineral resource estimate at its Karouni gold project in Guyana to a healthy 1,007, 000 ounces from 16 million tonnes grading 2.0 g/t gold. Troy is also on track to produce up to 40,000 ounces this financial year at an all-in-sustaining-cost of between US$1,450 and US$1,550 an ounce.
Troy restarts drilling at South America gold play
South American focused gold miner, Troy Resources has the drill rods turning again at the Smarts underground deposit at its Karouni gold project where it previously drilled a bevy of long high-grade gold hits with grades running as high as half an ounce to the tonne. Three additional diamond holes remain to be drilled ahead of a planned resource upgrade.
Red 5 dives on production cut
Share Price Closing price for the last 90 trading days Powered by Morningstar ® Total Shareholder Return as at 29/05/20 1 year TSR5 year TSR 78th Blackham Resources 128% -33% 109th Red 5 93% 24% 350th Pantoro 3% 22% 463rd Troy Resources -11% -26% 569th Rand Mining -28% 14% 671 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue Powered by Morningstar ® Share Transactions Total value as at the date of the transaction Powered by...
Troy mining across several deposits in South America
Defying the twin challenges of COVID-19 related operating restrictions and the onset of the rainy season, Troy Resources’ trial mining remains firmly on track to hit planned production targets at its Ohio Creek gold deposit in South America. With 6,000 tonnes already packed and processed and a second batch in the wind, Troy has largely managed to sidestep the Coronavirus and its trial mining campaign is now hitting its straps.
IGO to explore Metals X copper project
IGO can spend $36 million in 6.5 years to explore the Paterson Exploration Project. facebook twitter linkedin print Metals X has signed a $32 million farm-in and joint venture agreement with IGO, which will explore the company’s copper operations in the Paterson Province, while also announcing the potential restart of its Nifty operations. To read more, please Login below or Subscribe. Login (existing subscribers) Username/Email * Password * The password field is case sensitive.
Dacian Gold to raise $98m
facebook twitter linkedin print Dacian Gold has announced details of a partially underwritten capital raising priced at just 30 cents per share as it seeks to strengthen its balance sheet and rebuild its mining operations. To read more, please Login below or Subscribe. For first time subscribers, our monthly payment starts at $1 + GST for the first month. Login (existing subscribers) Username/Email * Password * The password field is case sensitive. Request new password Problems, questions, feedback?
Troy banks 4500 ounces of gold from South American project
Troy Resources has recovered 4,528 ounces of gold since mining re-commenced on January 10th this year at its Karouni gold project in Guyana South America, with much of the precious metal coming from the Hicks-4 pit that recently booked a three-fold reserve upgrade. Head grades have also been solid with the average grade for the quarter coming in at 2.2 grams per tonne gold.
Troy records three-fold gold reserve increase at Hicks
Troy Resources has recorded a three-fold increase in mineral reserves at the company’ Hicks-4 deposit that sits about 2km away from Troy’s operating Karouni gold mine in Guyana, South America. The company has also commenced trial mining at the exciting nearby Ohio Creek discovery, just one of multiple Troy deposits that lie within cooee of the company’s existing mining plant at Karouni. Reserve modelling at Hicks-4 has resulted in a significant upgrade to the deposit.
Troy gold operations back on track in South America
ASX-listed Troy Resources is back on track at its Karouni gold mining operation in Guyana, South America, with mining now in full swing again after a death on-site last year closed the operation down. The company is also experiencing considerable and sustained success with the drill bit and expects ore processing to re-commence in late January as ore stocks are built up. Gold sales will commence soon after in February.
Troy restarts gold mine with $15m funding package
Troy Resources has re-stocked its financial armoury with a placement raising $4 million and an $11 million loan facility supporting the restart of operations at its Karouni gold mine in South America that went onto care and maintenance in October after a fatality on site. The Malaysian-based institutional investment fund, Asian Management Investment Services has backed the Perth based miner to restart its mining operations with a loan facility.
Smashing gold result of 17m at nearly 5oz to the tonne for Troy
Troy Resources has hit the ball out of the park with an amazing 17m drill intersection going nearly 5 ounces to the tonne gold in South America. Importantly, the smashingly good intersection was encountered just 37m down hole at the company’s Hicks 1 extension within the Karouni Gold project. As a final curtsy to the crowd, it also included a 4m section grading an eye-watering 623.17g/t gold.
Shallow gold discovery boosts reserve ounces for Troy
Perth-based South American gold miner, Troy Resources’ decision to closely focus on its exploration assets appears to be paying off with the recent discovery of a new style of mineralisation along strike from the Hicks 1 pit at its Karouni gold project in Guyana. The new Hicks NW prospect has contributed around 19,000 additional reserve ounces and ongoing exploration continues to identify lucrative looking, broad, shallow zones, some with a sprinkling of visible gold in the drill samples.
Troy adds Ohio Creek to gold resources in S. America
Troy Resources continues to strengthen the foundations of its Karouni gold project in Guyana by bringing another deposit online during the first half of 2019, while adding a new inferred mineral resource at Ohio Creek into its inventory. The WA-based company has also outperformed its September gold production target by 1,395 ounces, churning out 4,395 ounces for the month to finish the quarter with 10,042 ounces.
Troy retires debt, secures future in South America
Durable ASX-listed gold miner, Troy Resources, is now debt-free and ready to rechannel future free cashflows from its South American Karouni project in Guyana back into expanding the operation and growing its in-ground mineral resources in the country.
Troy revises gold production outlook in S. America
facebook twitter linkedin print ASX-listed gold miner, Troy Resources, has provided a revised production outlook following an unprecedented wet season across its Karouni operations in Guyana, South America. The company advised in April that gold production was forecast between 26,000 to 28,000 ounces for the six months to December 2019.
Saudi sting opens window for WA
Supply continuity from plants such as Pluto is a key factor in WA projects’ pitch to the lucrative LNG markets of Asia. Photo: Woodside facebook twitter linkedin print OPINION: Every cloud has a silver lining, even the attacks on the Saudi Arabian oil industry, because they could provide the incentive for customers to seek more liquefied natural gas from Western Australia. To read more, please Login below or Subscribe.
Troy looks to add more ounces in South America
Perth-based ASX listed gold miner, Troy Resources, has wrapped up the latest round of drilling at its Karouni project in Guyana, South America with positive results kick-starting the next phase of work, including a maiden resource estimate and mining studies. A sizeable program of diamond drilling and RC drilling, comprising 5,636 metres of diamond and 18,180 metres of RC drilling at the Ohio prospect has outlined a gold mineralised corridor approaching 1km long.
More high grade gold for Troy in South America
Troy Resources has unearthed more high-grade gold results at its emerging Ohio Creek prospect in Guyana, South America, directly northwest of the historical Tallman open-pit mine and within the prospective “Tallman Corridor”. Infill drilling returned intersections up to 5 metres grading 27.5 grams per tonne gold from 62m down-hole and a metre section going more than 3 ounces to the tonne from 99m in a separate hole.
Troy strikes high-grade gold in South America
Troy Resources’ efforts to unlock the riches of its Karouni gold project in Guyana have borne fruit with infill RC drilling at the Ohio Creek prospect returning high-grade intersections of up to 3 metres grading 41.7 grams per tonne gold from 29 metres down-hole. This hole also included a second cracking intercept of 16 @ 6.4g/t gold from 69m down-hole. Other holes returned top results of 3m @ 12.1g/t gold from 39m down-hole, 5m @ 7.5g/t gold from 75m and 6m @ 11.8g/t gold from 62m.
UK mega investor ploughs money into Troy
After pulling through a couple of very challenging years that saw some heartbreakingly high all-in sustaining costs and a mountain of debt that was threatening to consume its Karouni gold project in Guyana, South America, Troy Resources now has its chip firmly back on the board, some colour in its cheeks and a clearly defined strategy to turbocharge the economics at Karouni.
Troy to raise $7.5m and get new largest shareholder
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Millennium to hit top-end guidance
Local gold producer Millennium Minerals says it is on course to hit the top end of its guidance for 2018 on the back of a strong second half performance. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Christmas Island mining program rejected
The federal government has rejected a mining exploration program by Perth-based CI Resources on Christmas Island that would have extended the company’s existing phosphate operations by up to 10 years. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Finders takeover offer unconditional
Finders Resources’ major shareholder Eastern Field Development has changed its hostile takeover bid of the copper miner to unconditional, with the Indonesian consortium continuing to raise concerns about the company’s Wetar project. To read more, please Login or Register below
Tap loses four directors
Tap Oil has announced the resignation of four of the company’s directors, including executive chairman James Menzies and Peter Mansell, with two nominations from major shareholder Risco Energy Investments appointed as replacements. To read more, please Login or Register below
Panel rejects Tap application
The Takeovers Panel has rejected an application by Tap Oil claiming its two biggest shareholders had become associated, with the panel refusing to make a declaration of unacceptable circumstances. Last month the oil and gas explorer requested the disclosure of details surrounding major shareholders Risco Energy Investments and Chatchai Yenbamroong, and for the pair to be restrained from voting at the company’s annual meeting.
Perth investors reject Finders takeover
Finders Resources has received the backing of some high profile Perth investors in its bid to reject a takeover offer, with Euroz’s Tim Lyons, billionaire Ralph Sarich and Brettney Fogarty among a list of shareholders that have indicated they will not accept the 23-cents-a-share bid. The copper miner rejected the offer from Indonesian group Eastern Field Developments last week after independent expert Deloitte valued the company’s shares between 31 and 35 cents.
Finders major shareholder to reject offer
Finders Resources’ largest shareholder, outside of Eastern Field Developments which is proposing a 23-cents-a-share bid for the company, will not accept the current offer and the copper miner said the bidding consortium has less than one per cent acceptance so far. Earlier this week Finders urged its shareholders to reject a takeover bid from the Indonesian group after independent expert Deloitte valued the copper miner between 31 and 35 cents.
Finders shares flat on Deloitte valuation
Finders Resources has urged its shareholders to reject a takeover bid from Indonesian group Eastern Field Developments after independent expert Deloitte valued the company well above the 23 cents offer price, however Finders’ share price has continued to hover near that mark today following the announcement.
Tap takes major shareholders to panel
Tap Oil has submitted an application to the Takeovers Panel requesting the disclosure of details surrounding major shareholders Risco Energy Investments and Chatchai Yenbamroong and for the pair to be restrained from voting at the company’s annual meeting. The panel said today it had received the application, which also asks for shares in the major shareholders to be vested in the Australian Securities and Investment Commission.
Risco plans board overhaul at Tap Oil
Tap Oil major shareholder Risco Energy Investments has notified the oil and gas explorer of its intention to overhaul the company's board at the next planned annual meeting in February. Singapore-based Risco plans to move a series of resolutions at the meeting, namely the removal of executive chairman James Menzies, non-executive director Peter Mansell and Risco’s existing nominee on the board Tom Soulsby.
Finders shareholders to make $177m takeover play
An Indonesian consortium has announced its intention to make an off-market takeover bid for copper miner Finders Resources, with the all-cash deal valuing the target at about $177 million. Shareholders in Perth-based Finders, which owns majority stakes in the Wetar copper operation and the Ojolali gold-silver project (both of which are in Indonesia) would receive 23 cents in cash for every share they own in the business under the offer proposed by Eastern Field Developments.
Doray flags $71m loss
Doray Minerals has flagged a $71.7 million net loss for the 2017 financial year, on the back of a large impairment charge. Perth-based Doray said revenue would come in 40 per cent higher to $183 million, but profit would dip into the red after a $16.5 million profit in FY16.
Dragon hit by ASX delisting, raising delays
Junior explorer Dragon Mining’s plans to delist from the ASX and join the Hong Kong Stock Exchange looks set to be delayed by several months, along with its proposed $17.5 million capital raising.
New Troy drill hits outside of existing resource
An exploration update from Troy Resources has delivered some good news for investors, with recent drilling making the first ore-grade hits outside the Karouni mine resource area in Guyana. The Perth-based gold producer has been drilling a number of targets in the historical fields around the Smarts and Hicks open pits that feed the recently commissioned Karouni gold mine.
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