The Motley Fool

Here’s why Troy Resources Ltd shares have fallen today

Shares of small-cap gold and silver miner, Troy Resources Ltd (ASX: TRY), have fallen 4.3% today following the announcement of its half-year results this morning.

In the six months to 31 December 2014, Troy’s revenue jumped 22% to $92.2 million. However a $28 million non-cash impairment of the Casposo gold and silver project led the group to a reportable loss of $26.7 million, compared to a loss of $6.9 million in the prior corresponding period.

With a gold grade of 4.09 grams per tonne, cash costs were $US706 per ounce. Total gold produced for the period was 31,682 ounces, whilst a higher silver content from the Casposo mine saw production rise to 1,429,647 ounces, compared to 937,013 ounces a year earlier.

As a result of Casposo’s higher silver content – proportionate revenues from silver rose from 20% to 50% – coupled with an unfavourable outlook and lower silver prices, Troy’s board took a conservative view on the carrying value of Casposo, which resulted in the write-down.

Looking ahead, things appear likely to get a little brighter with management declaring the Karouni project is on track for first production in the June quarter 2015, with plant construction well advanced.

These 3 stocks could be the next big movers in 2020

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any of the companies mentioned in this article. Owen welcomes your feedback on Google plus (see below) or you can follow him on Twitter @ASXinvest.

Related Articles...

Latest posts by Owen Raszkiewicz (see all)