Chart of the day is....

...dividends paid by Troy Resources this decade.

A total of 53c (if you were wondering), which isn't bad for a lil' gold miner. The 4c added for the 2009 column has just been announced. Here's the blurb (TY reader EDL):

Troy Declares 10th Consecutive Fully Franked Dividend

PERTH, WESTERN AUSTRALIA--(Marketwire - Aug. 10, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Growing junior gold producer, Troy Resources NL ("Troy") (TSX:TRY)(ASX:TRY) today announced it will pay a fully franked final dividend of 4 Australian cents per share out of profits for the year ended 30 June 2009. The Company is expecting to report an audited net profit after income tax, for the year ended 30 June 2009, approximating AUD 16 million. The record date for the dividend is close of trading on Friday 21 August, 2009 and the payment date is Friday 4 September, 2009.

Commenting on the announcement Troy's CEO, Paul Benson said: "This is Troy's tenth consecutive fully franked dividend which is an amazing record for a junior gold producer. The dividend of 4 cents per share represents a yield of 2.3% on Friday's closing share price. The 2009 financial year was certainly one of building the foundations for the profitable growth of the company which will allow us to continue paying dividends in the future."

ABOUT TROY RESOURCES

Troy Resources (TSX:TRY)(ASX:TRY) is a dividend-paying junior gold producer, with a clear growth strategy. The Company has two producing gold operations; at Sandstone in Western Australia and the Andorinhas Mine in Para State, Brazil and a gold silver development project "Casposo" in San Juan province, Argentina.

Troy has an experienced Board and management team with a portfolio of successful, fast-track mine development and low-cost operations.

Troy has an annual exploration budget of $5 million and a proven track record in exploration discoveries and strategic acquisitions.

Troy is currently focused on developing its Casposo Project, which it acquired in May 2009. With the acquisition and development of Casposo, Troy is entering a renewed growth phase which will again lift the Company's annual gold production above 100,000 ounces of gold per annum.

The Company maintains a robust balance sheet, and its current assets are forecast to continue to generate strong cash flow. Troy's gold production is unhedged; allowing its shareholders access to the full benefit of current and future gold price upside.

With the recent Casposo acquisition, Troy is positioned to continue its path of strong growth and profitable operations and is well on track to achieve its vision of becoming a highly profitable mid-tier gold producer with a portfolio of quality long-life assets.

Troy is a responsible corporate citizen, committed to the best practice of health and safety, environmental stewardship and social responsibility.

ABN 33 006 243 750

FOR FURTHER INFORMATION PLEASE CONTACT:
Troy Resources NL
Mr Paul Benson
Chief Executive Officer
(61 8) 9481 1277
(61 8) 9321 8237 (FAX)
troy@troyres.com.au
www.try.com.au

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Antofagasta (ANTO.L): a good investment if you live in the UK

UK-listed ANTO.L compared directly to US-listed PCU, 24 month chart

The FT reports today on the 53.6c dividend that big Chilean copper company Antofagasta (ANTO.L) is paying, this despite all the sector slowdown and all the et ceteras. that you know already. ANTO.L also pointed out in its conference call that capex will remain as stated previously, U$1.7Bn for 2009. Production schedules remain on target for FY09 and FY10 (2010 includes a big boost from the new mine due online).

That's pretty good stuff, and ANTO is enjoying the benefits of sitting on the large cash pile it made in the $3.50/lb to $4/lb copper period just finished. If you live in the UK and are looking for a defensive cyclical there are plenty of worse options out there and that above chart shows that the stock has held up well against PCU, as good a pure copper benchmark as there is.

But due to the swandive in the British Pound (GBP) things aren't so promising for dollar-based investors in ANTO.L, as this chart that compares the main London quoted stock with the US pinksheet illustrates.

Still, it's a good performance from ANTO.L in 2008, whichever way you cut it. At today's PPS of 530p, that dividend declared today offers a 7.3% yield. If you're feeling contrary and like the GBP against the USD going forward, ANTO.L certainly offers leverage and that investor-friendly dividend will give you a decent amount of downside protection, too. DYODD.

Why PCU is in the long-term portfolio

I don't really talk about the long-term portfolio much, basically because it never changes and to paraphrase Warren Buffett the favoured holding period is forever. It's comprised of gold bullion, silver bullion and a few stocks, with the biggest stock holding as Southern Copper (PCU).

Why PCU? This is why:

MEXICO CITY, Oct 31 (Reuters) - Peruvian miner Southern Copper, one of the world's largest copper producers, announced on Friday it will pay shareholders a dividend of $0.34 per share on Dec. 5.

The company (PCU.N: Quote, Profile, Research), which is a unit of Mexican miner Grupo Mexico (GMEXICOB.MX: Quote, Profile, Research), also said etc etc yada yada continues here

PCU just keeps paying me money, that's why. Here's a chart that summarizes the cash dividends of the last five years.

That's U$7.38 in total (if you include the 34c payment to come in December 2008). I took position in the stock at a split adjusted $8 and bits thus we're getting close to that magic net zero price. So even though PCU has dropped a mountain from its highs of 2007 and 2008 ....

...I'm still a very happy holder overall. I think it was Livermore who used to say buy right and sit tight. A long-term portfolio is a different mindset. It has to be like that. DYODD, dude.