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Slide 1
Investor Presentation
Annual General Meeting, Melbourne
25 November 2015
This presentation has been prepared by Troy Resources Limited (Troy).
Summary of information: This presentation contains general and background information about Troy's activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information that an investor should consider when making an investment decision. The information is provided in summary form, has not been independently verified, and should not be considered to be comprehensive or complete. It should be read solely in conjunction with the oral briefing provided by Troy and all other documents provided to you by Troy. Troy is not responsible for providing updated information and assumes no responsibility to do so.
Not financial product advice: This presentation is not financial product, investment advice or a recommendation to acquire Troy securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. Troy is not licensed to provide financial product advice in respect of its securities or any other financial products. Cooling off rights do not apply to the acquisition of Troy securities. Troy assumes that the recipient is capable of making its own independent assessment, without reliance on this document, of the information and any potential investment and will conduct its own investigation.
Disclaimer: Each of Troy and its related bodies corporate and each of its respective directors, agents, officers, employees and advisers expressly disclaim, to the maximum extent permitted by law, all liabilities (however caused, including negligence) in respect of, make no representations regarding, and take no responsibility for, any part of this presentation and make no representation or warranty as to the currency, accuracy, reliability or completeness of any information, statements, opinions, conclusions or representations contained in this presentation. In particular, this presentation does not constitute, and shall not be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Troy.
Forward looking statements: This announcement contains 'forward-looking statements' and 'forward-looking information', including statements and forecasts which include without limitation, expectations regarding future performance, costs, production levels or rates, mineral reserves and resources, the financial position of Troy, industry growth and other trend projections. Often, but not always, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'is expected', 'is expecting', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might', or 'will' be taken, occur or be achieved. Such information is based on assumptions and judgements of management regarding future events and results. The purpose of forward-looking information is to provide the audience with information about management's expectations and plans. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Troy and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, changes in market conditions, future prices of gold and silver, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in grade or recovery rates, plant and/or equipment failure and the possibility of cost overruns.
Forward-looking information and statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. Troy believes that the assumptions and expectations reflected in such forward-looking statements and information are reasonable. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Troy does not undertake to update any forward-looking information or statements, except in accordance with applicable securities laws.
Not an offer: This presentation is not, and should not be considered as, an offer or an invitation to acquire securities in Troy or any other financial products and neither this document nor any of its contents will form the basis of any contract or commitment. This presentation is not a prospectus. Offers of securities in Troy will only be made in places in which, or to persons to whom it would be lawful to make such offers. This presentation must not be disclosed to any other party and does not carry any right of publication. Neither this presentation nor any of its contents may be reproduced or used for any other purpose without the prior written consent of Troy.
No Distribution in the US: This investor presentation is not an offer of securities for sale in the United States. Any securities to be issued by Troy have not been and will not be registered under the US Securities Act of 1933, as amended (the 'US Securities Act') and may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act. No public offer of the securities is being made in the United States and the information contained herein does not constitute an offer of securities for sale in the United States. This investor presentation is not for distribution directly or indirectly in or into the United States or to US persons.
Monetary values: Unless otherwise stated, all dollar values are in Australian dollars (A$). The information in this presentation remains subject to change without notice.
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Martin Purvis, Chief Executive Officer & Managing Director
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David Dix, Non-Executive Director
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Mining engineer with over 30 years' experience in the Resource Sector. He has worked in a wide range of corporate and operational roles at Executive and Board level, and in a number of multi-national mining houses in a broad range of commodities and been the CEO of both listed and private companies in Australia and Singapore.
Age 54 ~ 1 year on Board
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Mr Dix's background is in economics and law. He has held various positions with Shell Australia Limited and worked for 16 years in Corporate Advisory at both Macquarie Bank Limited and UBS AG specialising in the mining industry.
Age 61 ~ 5 years on Board
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John Jones, Non-Executive Director
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Fred Grimwade, Acting Chairman
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John has overseen the development of Troy from a junior Western Australian exploration company in the early stages through to a dividend paying gold producer with operations in Australia and overseas. John has been a prominent player in the gold mining sector for over 30 years with a long list of successes.
Age 71 ~ 27 years on Board
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Non-Executive Director of Select Harvests Limited, Chairman of CPT Global Limited and is a Principal and Executive Director of Fawkner Capital. He has held general management positions at Colonial Agricultural Company, the Colonial Group, Western Mining Corporation and Goldman, Sachs & Co
Age 57 ~ 5 years on Board
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Ken Nilsson, Executive Director Project Development
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Richard Monti, Non-Executive Director
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Over 35 years international mine construction and production experience. Ken was responsible for the construction and development of Troy's Western Australian operations at Sandstone and subsequently oversaw the building of the Sertao Mine in Brazil. Ken has also managed the development of Andorinhas, Casposo and now Karouni.
Age 75 ~ 18 years on Board
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Gained broad experience over a 26 year career working in the technical, commercial, marketing and financial fields of the international exploration and mining industry. Mr Monti left Ventnor Capital in 2010 primarily to spend more time at Azimuth Resources Ltd which was subsequently taken over by Troy Resources in 2013.
Age 51 ~ 2 years on Board
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TRY - Share Price Performance (1 year)
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Summary (A$)
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Shares on issue
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290.1m
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Options and other unlisted securities
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12.2m
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Share price (24 Nov)
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$0.225
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Market Capitalisation (24 Nov)
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$65m
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Cash (30 Sept)
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$36m
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Debt (30 Sept)
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$91m
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Net Debt (30 Sept)
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$55m
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Enterprise value (24 Nov)
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$120m
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Top 20 holders
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51%
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Average monthly turnover
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$11m
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Gold production (annual, average)
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100,000oz
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Gold hedging (US$1,101)
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75,000oz
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Major Shareholders
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Renaissance Smaller Companies
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6.3%
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Westoz Funds Management
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6.2%
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Board and Management
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5.6%
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