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.

Troy Resources news (TRY.to)

TRY.ax closed up 1.3% at A$2.43 last night.
Here's the three month chart

Thanks due to kind reader 'M' for the headsup to the link. Here we have country standardbearing media source 'The Australian' reporting on the boardroom headbutting that currently going on over at Troy Resources (TRY.to)(TRY.ax).

No need to sample any of the text here, just click the link and go read it yourself. I'd just like to add that the photo of jones includes a very iffy necktie with yellow/black squares and interspersed flowers. Must pass as fashion in Oz.

Troy Resources (TRY.to) (TRY.ax): The slump continues

The big bad boardroom battle over at Troy Resources (TRY.to) (TRY.ax) has done this to the company share price over the last couple of days....
....with another 6.8% lopped off in Australia last night and the Canadian stock likely to go under C$2 by the end of play this morning. For some bckground of the whole shebang, check out this report in The Australian.

As a TRY long I'm watching the issue carefully, but mainly for two reasons:

1) Will it cause any delay for the Casposo mine construction?
2) Will it give me a decent place to buy more stock?

The first one is the key to the drop. The boardroom spat seems to be centred on the way TRY wants to raise the cash to build its new mine, so while there's dissent there may be a delay in the forward movement at Casposo. Nothing sure yet, but if things slow down it can't be good in the short term.

The second one is the way to play this, in my opinion at least. With people panicking out of the stock still, the drop is still fast and there's no point in catching the falling knife. But if we can (hopefully) identify the bottom at some point, the chances of adding to this company with great fundies and long term prospects may turn into a trade to remember. DYODD.