Troy looks to stronger 2018

GUYANA gold miner Troy Resources a reported a loss of just under A$8 million for the six months ending December, though underlying earnings of nearly $7 million represented a near-doubling of the performance from the previous corresponding period.

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The miner produced just under 29,000 ounces at all-in sustaining costs of US$1107/oz, with output increasing and AISC costs reducing from $1240/oz in the September quarter as the company got a better handle on operations at Karouni.

Costs in the December quarter were put at $1017/oz.

And the much better operating performance could be set to continue given Troy said earlier this month that it had produced 6124oz in the month of January.

Meanwhile the company's original $71.6 million debt facility with Investec was reduced from $27 million to $23 million during the half-year, with a further $3 million payment made in January.

Shares in Troy were unchanged at A9.5c in aftern...