RE: NewsGood morning gentlemen!
I have followed TRS from afar ever since the alluvial gold project in Ghana was announced.
Simple and potentially profitable going forward ... likely future prospects as well I should think. Plus I have enjoyed the innovative blog featuring twitter posts as well.
But I continue to ponder certain aspects that seem non-transparent. They relate to the Ghanan project. May I ask your assistance in these matters?
1. No 43-101 report has been posted at SEDAR relating to the technical data of the Ghanan project. Isn't it a requirement of a public company? I would think these data would be deemed material since the improtance of the project to the Company.
2. I could not find any posted data related to the test pitting of the alluvial goldfield. Have I totally missed this data?
3. I would find any grade data on the gold bearing horizon(s) far more of interest than the notation that the gold is near pure at 20-22 carats. Why publish purity data and not grade data?
I fully recognize the elegant simplicity and 'beauty' of the floating gravity system for this placer production ... that's partially why the project appeals. However, to get the SP to move ... grade and by now initial production data would seem to be an obvious way to do this?
Projects such as Ghana are in the end materials handling exercises once the production decision has been made. In the blog it is said that all intial production pains have passed and full production is happening as we 'speak'. So what is this production?
As an example: say the placer has 0.5 g / t of Au. At the stated 200 t / hr. x say 16 hrs. / day = approx. 1,600 g/day which is approx. 50 oz. / day. As per the news announced today, "the Parties" will receive 85% of this production = .85 x 50 = approx. 42.5 oz. / day ................. 50% to TRS = approx. 21.25 oz / day. SAY 20 oz. / day to TRS for convenience.
Gross cash flow from 20 oz. of Au / day at a conservative gross of $850 CDN = $17,000 / day x 30 days = $510,000 ... a very cool monthly figure wouldn't you say? Well I should think so, in that TRS' payout for turnkeying the operation could be < 2 months at a grade of 0.5 g / t of pay. Even at a grade of 0.25 g/t yielding monthly cash flow of $250K CDN ... the future is seemingly profitable. At $250K x 12 months , the gross cash flow per share would be in the order of 4.7 cents per share, given 64 million shares ... to my minion-like thinking those numbers would easily support a much greater share price!
For a co. valued at approx. $7 million ... shouldn't this likelihood greatly increase interest and thus the share price? I would think so. So why the lack of data?
TIA for any help you can provide .......... I hope I didn't miss a decimal point somewhere!! LOL
All the very best!
Dorinho