Even the most postiive long investor here has to be worn out a bit. I've been holding here for 3+ years. Not as much as now, but still a large position. Few saw the brutal miner's bear market that hit ouver the past few years Also the delays with this specific stock have been long & delayed where I thought the company would be at the moment.
Two things remain true about this though that continue to bring me confidence. Although pieces have been delayed, the date to break ground on the project has basically remained the same. More important to me is when I look back to every delay & reasons behind them, they all made perfect sense. If you have higher grade areas not drilled out did it make more sense to drill them or release a resource report on time in the heart of a bear market when no one would have cared? The resource report released late last year beat my expectations, which were high going in. So aside from abysmal communication to the market during the process Troilus has delivered big time on a perfectly executed 2nd largest drilling program in Quebec.
The change from releasing a PFS then FS to a DFS also made perfect sense. No one cared about miners over the past few years & there was little M&A going on. Why release a PFS in the moddle of a bear market when you are still drilling like mad & would be outdated the minute it was released? That all made perfect sense through 2023. Then bam!!! ... delayed again from early Jan until now. Frustration for long holders, unless you give it deep thought & ask why? Why make an 11th hour change? Two possibilities exist. The con case is a smaller yearly production showed a non-economic mine plan. I personally do not believe that for a second. The pro case is they were approached by a JV partner all but signed and/or the Quebec government to have production look a certain way per year. You could almost prove the Quebec aspect by the recent PRs. Hell, it says to align with stakeholders regarding strategic minerals!
I am nothing but positive on this company. They will perform & get this through permitting & partnered or bought out if the price is right. I don't think they spent a fortune on a 350,000 meter drilling program & held institutions on the hook for this long to give the project away. I think management knows what they have & will maximize profit for shareholders. We'll see ... rubber starts to meet the road this month.