IKN

Hereditary sloth instructs me

Troy Resources (TRY.to): Sorry? What was that about panic selling again?

The only difference,
Twixt men and boys,
Is the shape, the size,
and the price of their toys.
(anon)
Here’s the three month chart of my fave small gold producer, Troy Resources (TRY.to) (TRY.ax) with a couple of pointers to recent events.
Those of us that follow the stock closely know there’s a boardroom headbutting contest between the current executive (led up by CEO Benson) and the old guard led up by company founder and large shareholder John Jones. The fight is about how to raise capital for the new Casposo project in Argentina and basically Jones is against Benson’s plan to raise via an equity dilution. It’s more intricate than that (those watching closely, please note those part-paid shares that have been converted this month) but it boils down to one thing: Two mining boys having a pissing match, both of them right and neither of them wrong.

As for the share price, the whole shebang concerned your humble servant much less than other observers, that’s clear. The stock dropped off a cliff for a while but I just said “hold”…I even said “buy some cheap ones if you want” at some point but didn’t partake myself…already full, y’see.

So here we are a few weeks later (and still on the run-up to the big bad boardroom showdown at the end of November) and the stock has….oh look…it’s at new highs. This means that the market has cottoned on to the basic truth; whoever runs TRY going forward, it’s going to be a success.

Moral of the story; let those oh so important boys play their oh so important games. The fundy analysis holds strong and the company is growing and set to make seriously good money going forward. Y’know, sometimes…just occasionally…it pays to be a small retail minnow and miss out on all the bigswingingdick stuff that goes on in the faster lanes of mining.

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.