John Dow, Non-Executive Chairman of growing gold producer, Troy Resources and former Chairman and Managing Director of major gold producer, Newmont Australia, will deliver a presentation on Troy’s rapid progress towards becoming a profitable mid tier producer. Troy has a growing portfolio of low-cost gold assets in the South Americas, where the Company continues to operate with considerable success.
In Brazil, Troy currently operates the Andorinhas Project which commenced underground operations in 2009. Before this Troy successfully commissioned, mined and rehabilitated the Sertão Operation in Brazil.
In May 2009 Troy acquired its third South American asset, the Casposo gold-silver project in Argentina. In keeping with its reputation for fast-track, low cost mine development; in the ensuing months since the Casposo acquisition, Troy has near-halved the capital cost of this project (47% reduction), and increased the Mineral Resource by 32%. Casposo is scheduled to produce first gold in the September quarter of 2010.
In December 2009 Troy secured the right to earn 100% interest in the Castaño Nuevo project located just 22km north of its Casposo site. With its close proximity to Casposo, the opportunity exists to leverage existing infrastructure and local knowledge to quickly assess this project’s potential, and further extend Troy’s operations footprint in Argentina. Not to be missed!
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