Troy Resources Ltd T.TRY

Primary Symbol: TRYRF

Metals & Mining Gold

Troy Resources Limited is an Australia-based junior gold producer operating the Karouni project in Guyana. The Company, through its subsidiary, Troy Resources Guyana Inc., operates Karouni gold project. The Karouni Gold Project is located within the country of Guyana. The project is centered at 5º37’N and 59º05’W in the central-northern portion of Guyana and lies approximately 180 kilometers (km) south-southwest of Georgetown. The project straddles the regions of Cuyuni-Mazaruni and Potaro-Siparuni and can be accessed through air from Georgetown to the airstrip on-site. The Company is focused on brownfields and greenfields exploration. The main Karouni mining areas of Smarts and Hicks are located on a central large mining license. The Company's prospects include Spearpoint Prospect, Larken Prospect, Hicks 1 Extension, Hicks 1 Extension, Gem Creek Prospect, Upper Itaki, Kaburi Hills and Ohio Creek Prospect.

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Troy Resources Ltd

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Comment by presto10on Mar 27, 2009 3:05am

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Post# 15875844

S

Let's see: $80 million US development costs. They have $60m Australian which converts to US $42 million and they paid US $20 million for the property. So $80m - $22m = $58m - savings from their mill in storage = Costs to be funded. Costs to be funded should be decreased by positive cash flow from Australian ops and the new mine in Brazil.

Looks like they will need to raise some money or try to forward sell some gold, which would also require hedging. Raising some money won't be the end of the world if it means getting some coverage for the company and getting it on the map, finally. Have I missed anything?

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