Troy Resources NL

Published : May 04th, 2016

Troy Restructures Investec Facility

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Australia | Debt | Gold | Gold Producer | Growth | Nickel |


 


 
   
 
 

Troy Restructures Investec Facility


Perth, Western Australia: Gold producer Troy Resources Limited (ASX:TRY) (Troy or the Company) is pleased to announce that positive operational performance at Karouni has enabled Troy to restructure the Investec Revolving Debt Facility (Facility) on more favourable terms. This follows a successful visit to Karouni in early April by a team of technical and financial representatives from Investec.

Key variations to the Facility include:

1.   An extension of the loan term to 30 June 2018 from 30 June 2017.

2.   Quarterly loan repayments as follows:

3.   A significant reduction in the margin rate.

4.   A reduction in mandatory hedging requirements to 50,000oz and the existing hedge book smoothed out over an 18
      month period (rather than 12 months) to increase exposure to the strong gold price at present. The quantum of the
      facility will be reviewed at six monthly intervals at Troy�s request. Discretionary hedging lines for further gold hedging as
      well as new lines for currency and fuel hedging have also been made available to Troy.

5.   Minimum liquidity requirement (including bullion on hand) reduced to A$10 million.

6.   No Debt Service Reserve Account.

The Company has in place a forward exchange contract that will convert the existing A$60 million outstanding under the Facility to US$42,942,000 at a rate of A$/US$ 0.7157 on 20 May 2016. The Facility documentation is currently in the process of being amended to reflect these variations, which should take effect by 20 May 2016.

Commenting on the Facility, Troy�s Managing Director, Martin Purvis said: "This restructure puts in place a sustainable platform for the further growth and development of Troy. It also signals a watershed in the transformation of Troy�s business model over the past 18 months. That journey has been very challenging for the Company and it�s great to see those efforts being recognised by Investec and captured in this restructured Facility.Investec�s support was fundamental to the successful development of Karouni and we now look forward to the next chapter in our long-standing relationship."

Investec Bank�s Head of Resources, Anthony Hawke said: �Investec has had a long-term banking relationship with Troy and we congratulate the Company on its successful development, commissioning and ramp-up of production at its Karouni project.  Through the project development period Troy�s management team had to navigate a number of diverse corporate and geographic challenges and it is a testament to the team�s professionalism and capability that all the targeted outcomes were achieved.  Investec is pleased to have Troy as a core client and we look forward to working further with the Company to support its growth plans.�

Andorinhas

The Company is also pleased to advise that it has received confirmation that the proposed Plan of Arrangement between Magellan Minerals Limited and Anfield Nickel Corp. (Acquisition Transaction) was approved by Magellan's shareholders on 28 April. Pursuant to the Company's agreement with Magellan, it will receive the remaining US$1,995,000 for the sale of the Andorinhas processing plant and mining fleet within 10 days of closing of the Acquisition Transaction, which is expected to be in mid-May.

ENDS

Troy Resources Limited
Suite 2, Level 1, 254 Rokeby Road
Subiaco, Western Australia 6008
ABN 33 006 243 750
Ph: +61 8 9481 1277
Fax: +61 8 9388 3560
Email: info@troyres.com.au

 

 

Data and Statistics for these countries : Australia | All
Gold and Silver Prices for these countries : Australia | All

Troy Resources NL

PRODUCER
CODE : TRY.AX
ISIN : AU000000TRY7
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Troy Res. is a gold producing company based in Australia.

Troy Res. produces gold, silver in Argentina, in Australia and in Brazil, develops gold in Australia, and holds various exploration projects in Argentina, in Australia, in Brazil and in Finland.

Its main assets in production are GOIAS VELHO / SERTAO MINE and ANDORINHAS in Brazil, BULCHINA MINE, CORNISHMAN & DOUBLE O, CORNISHMAN MINE, LORD NELSON and LORD HENRY in Australia and CASPOSO in Argentina, its main assets in development are SANDSTONE - LORD NELSON and SERTAO in Australia and its main exploration properties are DALY RIVER, THREE RIVERS, TWO MILE, THREE RIVERS and TROJAN JV in Australia and OIJARVI in Finland.

Troy Res. is listed in Australia, in Canada and in Germany. Its market capitalisation is AU$ 16.9 millions as of today (US$ 12.2 millions, € 10.7 millions).

Its stock quote reached its highest recent level on October 05, 2012 at AU$ 5.02, and its lowest recent point on June 11, 2021 at AU$ 0.03.

Troy Res. has 456 600 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Corporate Presentations of Troy Resources NL
8/23/2016Investor Presentation
5/9/2016Gold Tour Presentation
7/27/2011Company Presentation-Investor Update
Annual reports of Troy Resources NL
: 2012 Annual Report to Shareholders
Annual Report 2011
Financings of Troy Resources NL
4/9/2013Provides Funding to Azimuth Pursuant to Convertible Note Fac...
Option Grants of Troy Resources NL
1/10/2012Payment of Dividend and Issuance of Shares Under the Troy Di...
Nominations of Troy Resources NL
7/29/2016Appointment of Independent Non-Executive Director
8/29/2013: Change to Directors
2/5/2013: Appointment of Company Secretary
3/14/2011Resignation of Company Director
2/1/2010Appointment of Mr David Dix
Financials of Troy Resources NL
7/29/2016Quarterly Activities Report - June 2016
4/28/2016Quarterly Activities Report - March 2016
9/27/2012: Full Year Statutory Financial Statements-30 June 2012
Project news of Troy Resources NL
5/21/2014Australian company to open gold mine in Guyana
8/29/2011Strong Production Growth Returns Troy to Profit
4/27/2011(Kamila)Follow-up Drilling at Kamila SE Extension Zone Produces Furt...
3/20/2011(Casposo)- High Grade Drill Intercept
5/17/2010(Casposo) NI-43101 Technical Report Casposo Project San Juan, Argenti...
5/11/2010(Casposo)Casposo financing complete
5/6/2010(Casposo)Casposo updated mining reserve and production schedule
3/8/2010(Sandstone - Lord Nelson)New Nickel Sulphide Discovery at Sandstone JV
2/23/2010(Andorinhas)Andorinhas Robbery
1/27/2010(Casposo)Casposo Update
10/9/2009(Casposo)Casposo Project Update
9/14/2009(Casposo)NI43-101 Updated Technical Reports for Casposo & Sandstone
8/18/2009(Casposo)Updated Mineral Reserves and Resources
7/31/2009(Two Mile)New Inferred Resource Two Mile Hill Prospect Sandstone WA
7/29/2009(Casposo)Significant (32%) Increase in Casposo
7/16/2009(Two Mile)High Grade Results at Two Mile Hill Prospect
6/12/2009(Casposo)Files technical report for the Casposo deposit
9/9/2008(Andorinhas)Andorinhas Iron Ore Resource
8/4/2008(Andorinhas)Troy Resources NL - Andorinhas Iron Drill Results
7/25/2008(Andorinhas)Colluvial Iron Ore Study Update - Andorinhas Project Brazil
Corporate news of Troy Resources NL
9/23/2016Becoming a substantial holder from CBA
7/13/2016Operational Update
6/27/2016Director Appointment/Resignation
5/27/2016Karouni Operational Update
5/13/2016Ceasing to be a substantial holder
5/4/2016 Troy Restructures Investec Facility
5/3/2016Troy Restructures Investec Facility
2/1/2016Change of Director's Interest Notices
2/1/2016Change of Director's Interest Notices
1/28/2016Appendix 3B and Cleansing Notice
1/28/2016Results of Meeting
1/28/2016Quarterly Activities Report - December 2015
12/28/2015Change in substantial holding
12/28/2015Change in substantial holding
12/24/2015Ceasing to be a substantial holder
12/23/2015Appendix 3B and Cleansing Notice
12/23/2015Notice of General Meeting/Proxy Form
12/17/2015Troy Announces Completion of $10 million Placement
12/17/2015Capital Raising Investor Presentation
12/17/2015Capital Raising Investor Presentation
12/15/2015Trading Halt
12/15/2015Trading Halt
10/30/2015Quarterly Activities Report - September 2015 (Relodge)
10/30/2015Quarterly Activities Report - September 2015
10/29/2015Change in substantial holding
10/26/2015Commissioning Complete at Karouni Gold Project
10/26/2015Commissioning Complete at Karouni Gold Project
10/23/2015Corporate Governance and Appendix 4G
10/23/2015Annual Report to shareholders
10/23/2015Notice of Annual General Meeting/Proxy Form
10/23/2015Annual Report to shareholders
10/23/2015Notice of Annual General Meeting/Proxy Form
9/25/2015Full Year Statutory Accounts - 30 June 2015
9/25/2015Full Year Statutory Accounts - 30 June 2015
9/14/2015TRY to Convert Currency of Loan Facility and Resets Hedging
9/10/2015Change to Securities
9/10/2015Change to Securities
8/31/2015Mineral Resources and Ore Reserves Update
8/31/2015Mineral Resources and Ore Reserves Update
8/31/2015Appendix 4E - Preliminary Final Report - 30 June 2015
8/31/2015Appendix 4E - Preliminary Final Report - 30 June 2015
8/31/20152015 Financial Year Results Announcement
8/13/2015Appendix 3Y - Change of Director's Interest Notice - Jones
8/13/2015Appendix 3Y - Change of Director's Interest Notice - Jones
8/4/2015Diggers and Dealers 2015 Presentation
8/4/2015Diggers and Dealers 2015 Presentation
7/31/2015Quarterly Activities Report - June 2015
7/31/2015Quarterly Activities Report - June 2015
7/22/2015Change in substantial holding
7/14/2015Troy Chairman Leave of Absence
7/10/2015Karouni Gold Project - Operational Update
7/9/2015Becoming a substantial holder
6/15/2015Appendix 3Y - Change of Director's Interest Notice - Jones
6/9/2015Successful Completion of Placement and Share Purchase Plan
6/9/2015Appendix 3B and Cleansing Notice
6/4/2015Results of General Meeting
4/27/2015Trading Halt
4/24/2015Quarterly Activities Report - March 2015
4/20/2015Appendix 3Z - Final Director's Interest Notice - Harvey
4/20/2015Resignation of Director
4/20/2015Resignation of Director
4/14/2015UK Investor Update Presentation - April 2015
4/14/2015UK Investor Update Presentation - April 2015
4/14/2015Voluntary Delisting from Toronto Stock Exchange
4/14/2015: Voluntary Delisting From Toronto Stock Exchange
3/25/2015Notice of Initial Substantial Holder for ALY
3/25/2015Half - Year Ended 31 December 2014 Financial Results
3/25/2015Half - Year Report for the Period Ended 31 December 2014
3/25/2015ALY: Purchase of Reserve Payment from Troy
3/25/2015S&P DJ Indices Announces March Quarterly Review
3/25/2015Appendix 3Y - Change of Director's Interest Notice - Parish
3/25/2015Change in substantial holding
3/25/2015Ceasing to be a Substantial Holder for ALY
3/25/2015Half - Year Report for the Period Ended 31 December 2014
3/25/2015ALY: Purchase of Reserve Payment from Troy
3/25/2015S&P DJ Indices Announces March Quarterly Review
3/25/2015Change in substantial holding
3/25/2015Ceasing to be a Substantial Holder for ALY
2/20/2015: Investor Update Presentation, February 2015
12/18/2014Appendix 3Y - Change of Director's Interest Notice - Purvis
12/18/2014Appendix 3B - Issue of Share Appreciation Rights
10/20/2014Troy Signs Minerals Agreement for the Karouni Gold Project
10/14/2014The Dollar Rally: Where Will The Buck Stop?
2/25/2014Troy Resources to Raise Up to A$28 Million by Way of Placeme...
2/25/2014Troy to Raise Up to A$28 Million by Way of Placement and Up ...
2/23/2014Troy Resources Limited: Half Year Ended 31 December 2013 Fin...
2/20/2014Troy Resources Limited: RIU Explorers Conference Presentatio...
2/17/2014Troy Reaches Agreement to Sell Its 70% Interest in the Serta...
2/2/2014Troy Resources Limited: Investor Update, February 2014
2/2/2014Troy Resources Limited: Exceptional Channel Sample Results a...
1/31/2014Troy Resources Limited: Quarterly Activities Report December...
10/29/2013Presentation-ASX Small to Mid Caps
10/25/2013-Notice of 2013 Annual General Meeting and Explanatory Memor...
9/26/2013Full Year Statutory Accounts-30 June 2013
9/16/2013Investor Presentations-September 2013
8/28/2013: Completion of Compulsory Acquisition of Ordinary Shares in...
8/6/2013Presentation-Diggers & Dealers 2013
7/29/2013: Quarterly Activities Report June 2013
7/29/2013: Quarterly Activities Report June 2013
7/9/2013Corporate and Operational Update-BRR Webcast
6/27/2013Cuts Costs in Decisive Response to Price Volatility
6/24/2013Takeover Bid by Troy Resources Limited for Azimuth Resources...
6/17/2013Takeover Bid By Troy Resources Limited for Azimuth Resources...
6/7/2013Takeover Bid by Troy Resources Limited for Azimuth Resources...
5/24/2013: Institutional Acceptance Facility and First Supplementary ...
5/8/2013: Change to Securities
4/30/2013on Progress of Troy Takeover Offer for Azimuth
4/22/2013Secures A$40 Million Funding from Investec
4/3/2013and Azimith Resources CEOs Discuss Proposed Takeover-BRR Web...
3/28/2013: Media Conference Call Recording
3/25/2013(Kamila)Casposo Exploration Drilling Update Kamila Southeast Trend I...
1/30/2013: Quarterly Report on Activities December 2012
10/25/2012: Notice of 2012 Annual General Meeting & Proxy Form
10/16/2012Presentation: ASX Small to Mid Caps Asia
8/14/2012Announces Agreement to Sell the Sandstone Property to Southe...
8/8/2012Presentation: Diggers & Dealers
7/27/2012: Quarterly Report on Activities June 2012
7/12/2012(Casposo): Dr. J.W. Hedenquist Casposo Site Visit and Report
6/25/2012: Presentation & Webcast-The Gold Coast Resources Showcase
6/20/2012(Casposo): Reserve and Mine Plan Updated Technical Report (NI 43-101)...
5/30/2012(Casposo): Casposo Mineral Reserve Update Gold Equivalent Production ...
4/13/2012to Be Included in the S&P ASX 200 Index
4/4/2012: Company Presentation
2/24/2012(Casposo)Doubles Production & Revenue as Low Cost Casposo Hits its St...
2/8/2012: Revised December 2011 Quarterly Report
1/30/2012: Quarterly Report on Activities December 2011
1/9/2012ASX Announcement - ASIC Approves Change of Company Type and ...
12/15/2011New Corporate Office and Registered Address
10/12/2011(Casposo)Resource Update Report Released for Casposo Project San Juan...
10/4/2011(Casposo)Casposo Achieves Nameplate Throughput
8/29/2011(Kamila): Initial Resource Estimate Kamila Southeast Discovery at Ca...
8/24/2011Introduces A Shareholder Dividend Re-Investment Plan
8/3/2011Public Announcement Media Speculation
8/2/2011(Kamila)Kamila Southeast Target Drilling Update-More High Grade Resu...
7/20/2011(Casposo)ASX Announcement - High Grade Intercepts Drilling at Casposo...
6/21/2011(Kamila)Kamila Southeast Zone Drilling Continues to Deliver High Gra...
6/7/2011(Casposo)Declares Dividend as Low Cost Casposo Mine Officially Opened
5/19/2011(Kamila)Kamila Southeast Zone Step-Out Drilling Delivers High Grade ...
2/28/2011Half Year Ended December 31, 2010 Financial Results
1/24/2011 Quarterly Report on Activities December 2010
8/2/2010Diggers & Dealers 2010 Company Presentation
7/29/2010Sales of Andorinhas Iron Ore
7/16/2010Initial Inferred Resource Julieta Prospect Casposo Project
4/30/2010Quarterly Report on Activities March 2010
3/17/2010Corporate Update Presentation
2/10/2010Financing Update
2/4/2010Moving to Where the Gold Is
1/29/2010Quarterly Report on Activities December 2009
1/29/2010Aztec Vein Initial Grade Control Drilling - Casposo Project
1/21/2010 Notice of Forfeited Shares Auction
1/20/2010 Sale of Mongolian Assets
12/14/2009Form 604 -Notice of change of interests of substantial holde...
12/7/2009Share Placement and Appendix 3B
12/4/2009Entitlements Issue - Under Subscription
12/2/2009Amended Constitution
11/9/2009Troy Resources NL - Chairman's Letter to Shareholders - EGM ...
11/5/2009Shareholder Letters Re Entitlements Issue
11/4/2009Entitlements Issue 708AA Notice & Appendix 3
11/4/2009Withdrawal of Request for EGM
10/28/2009Quarterly Report on Activities September 2009
10/2/2009Notice of Shareholder Meeting
9/30/2009Full Year Statutory Accounts
9/25/2009CALL ON PARTLY PAID SHARES
8/27/2009Profit of A$16.7 Million and Builds the Foundation for Futur...
8/10/2009Declares 10th Consecutive Fully Franked Dividend
7/30/2009Quarterly Report on Activities June 2009
2/9/2009Quarterly Report and Operations Update - Audio Broadcast
2/23/2009Half Year Report
2/3/2009ASX Release - Voluntary Annual Information Form
1/28/2009Quarterly Report
1/20/2009ASX Announcement
11/27/2008AGM Results November 2008
11/26/2008Resignation of Non-Executive Director T D McKeith
11/13/2008ASX Announcement
9/30/2008ASX Announcement
8/29/2008ASX Announcement
7/31/2008Quarterly Report
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AUSTRALIA (TRY.AX)TORONTO (TRY.TO)
0.037+0.00%0.430+1.18%
AUSTRALIA
AU$ 0.037
06/28 11:00 -
0%
Prev close Open
0.037 0.037
Low High
0.037 0.037
Year l/h YTD var.
0.037 -  0.037 -%
52 week l/h 52 week var.
0.037 -  0.044 -5.13%
Volume 1 month var.
0 -%
24hGold TrendPower© : -26
Produces Gold - Silver
Develops Gold
Explores for Copper - Gold - Lead - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/24/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20220.00%
2021-62.63%0.100.03
20208.79%0.200.06
2019-17.27%0.130.08
201813.40%0.180.08
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.58+2.71%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.83-4.07%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.47-7.33%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.53-10.32%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.00+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.71-1.02%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+7.14%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.25+4.17%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.79-6.28%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 59.37+2.73%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :