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Troilus Gold Corp T.TLG

Alternate Symbol(s):  CHXMF

Troilus Gold Corp. is a Canadian mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. The Company owns a 100% interest in the Troilus project. The Company holds a land position of approximately 435 square kilometers (km2) in the mining jurisdiction of Quebec, Canada, within the prospective Frotet-Evans Greenstone Belt. The Troilus Mine is located northeast of the Val-d'Or district of Quebec, produced 2 million ounces of gold and approximately 70,000 tons of copper. The seven kilometer main mineral corridor includes zones Z87, J Zone, X22 and Southwest, containing an estimated 11.21 Moz AuEq in the Indicated category and 1.80 Moz AuEq in the Inferred category. The Troilus property has an established infrastructure, including operating substation and power lines, an extensive network of well-maintained roads, operating water treatment facility, and a permitted tailing facility.


TSX:TLG - Post by User

Comment by AlwaysLong683on Feb 29, 2024 11:20am
90 Views
Post# 35906579

RE:Remember

RE:Remember
The issue with TLG is not the MRE or the potential of hte project or how impressive everyone thinks the FS will be - management is key to any business and can blow even the most promising projects (like the coaching staff of a hockey team making bad decisions that cost a much more talented team a playoff series against a well-coached opponent).
 
Many in here may have heard the old business adage that a company should "underpromise and overdeliver" - in other words, the investment community is listening / watching. Now, I don't hold a company to that high of a standard, but it's not unreasonable to want to see a company meet the claims it makes about timelines, targets, etc., and if not, communicate acceptable excuses for not doing so. Everyone is entitled to change their views as events develop, and in fact should be willing to re-examine their initial position of a company as time moves forward. Those who still think CEO Reid is being upfront with the investment community and these are just insignificant glitches along the way can remain bullish, hold what they have, buy more, etc. Those who become skeptical about how things are progressing may respond differently. However, people are free to present both bullish and bearish comments / arguments about a company on these BBs and readers can decide for themselves or present counter-arguments.
 
That said, to ignore the missed FS target date period Mr. Reid outlined in the Crux interview in mid-October or the subsequent (surprising IMO) equity raise at 0.35 and 0.42 per unit at the end of that same month after indicating in the interview that TLG had approximately $15M in cash just two weeks ealier (he may have included expected future cash rebates in the total, but if so, should have clarified that during the interview - i.e., "cash on hand" is what you currently have access to now, not what you'll have at some point in the future). Couple this with the ongoing mystery as to the time window the FS will be released are not signs of a well-managed company. For example, if Mr. Reid had simply stated he expects the FS to be released "at some point in Q1 2024" like the Crux interviewer actually suggested in his question, the timing of the release of the FS would still be a non-issue today IMO.
 
Last point: Mr. Reid likes to compare TLG with ARTG - he even had a slide in his presentation suggesting that TLG's project is similar to ARTG, and I agree it is similar in many respects. That said, one may wish to "read the story" of ARTG's progress on its Blackwater project by browsing through the ARTG press releases from the beginning of 2021 onward and seeing how they moved through the process while keeping shareholders up to date on what's happening. 
 
Again, not saying TLG won't be a home run and current bulls who are in big won't end up prospering big time, and I'm personally still interested in the possibility of investing in company shares, but management showing me they can do a good job during the bulk of a particularly tough stage of a young mining company's life (financing/contracting) is key before I make an investment decision.
 
 
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