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Troy picks targets

AFTER acquiring a huge slice of Western Australia in the Sandstone district, Troy Resources NL is now selecting drill targets for the coming year.

In the first six months of the year, the junior explorer and miner drilled out resources and reserves and completed a feasibility study for a new mining operation at the Bulchina deposit near Sandstone.

Mining commenced at Bulchina in August, and the first ore was processed through the Sandstone mill, purchased from Herald Resources Limited for $1.5 million.

Troy executive chairman John Jones said the success of this “evaluation and development”

programme has been a particularly “pleasing result” with many hurdles and difficulties met and cleared.

Aggressively pursuing a strategy to farm-in to surrounding tenements, Troy acquired an interest in a virtually contiguous block of about 800 square kilometres of greenstones centred on its own processing plant.

“Substantial control of a whole goldfield will bring efficiency and effectiveness in the exploration of a geologically complex terrain, and many development opportunities in the near vicinity of the Sandstone mill may be discovered,” Mr Jones said.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/18

1 year TSR5 year TSR
158thMillennium Minerals31%-6%
397thTroy Resources-9%-41%
583rdGalaxy Resources-37%49%
670thBlackham Resources-49%-16%
744 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

08/12/16
$228k Sold
07/12/16
$41k Sold
23/11/16
$122k Sold
Total value as at the date of the transaction
Source: Morningstar

Revenue

29th↑Galaxy Resources$128.1m
30th↑Blackham Resources$122.1m
31st↑Troy Resources$116.5m
32nd↓Millennium Minerals$116.0m
33rd↓Tiger Resources$113.2m
512 listed resources companies ranked by revenue.
Source: Morningstar

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