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Troy figures

TROY Resources NL has announced gold production for the 2000-01 from its Bulchina Mine at Sandstone was 58,299 ounces, up by more than 10,000 compared with the corresponding quarter of the previous year. This was despite a fall in production during the June quarter to 13,198 ounces from 16,139 ounces in the previous corresponding quarter.

While production fell, actual cash costs were similar, as the cost of extracting and milling rose to $176 per ounce compared with $148 per ounce in the June 2000 quarter.

“The fall in head grade was in part due to a clean-up of low to medium grade laterite material from the ROM pad during June,” the company explained in its quarterly report.

Troy Resources also has announced an on-market share buy-back to purchase up to 2.25 million fully paid ordinary shares – approximately 5 per cent of the company’s fully paid issued capital – to increase the value per share for the benefit of shareholders.

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