Troy Resources has warned it may not reach its financial year production target at its Casposo gold and silver mine in Argentina amid setbacks in accessing high grade ore sections.
Gold miner Troy Resources says it has secured the final funding required to develop its Karouni project in West Guyana, with Investec Bank agreeing to provide the company with a $100 million revolving credit facility.
SPECIAL REPORT: The gold and technology sectors have experienced a boost in investment activity for the March quarter, but doubts remain over whether it will last.
Troy Resources will tap the market for about $38 million through a placement and share purchase plan to fund development at its West Omai gold project in Guyana.
Mermaid Marine Australia has agreed to purchase the subsidiaries of Singapore-based marine services provider Jaya Holdings for $S625 million ($550 million), in an all-cash deal which represents one of the largest acquisitions by a Western Australian company in recent years.
Troy Resources has become the latest Perth-based miner to take a financial hit on the back of a softer gold price, reporting a half-year net loss of $6.8 million.
Property executives were the big movers in this year's Wealth Creators list, while the resources slowdown put the hurt on mining services directors' fortunes.
Gold miner Troy Resources' net profit has been smashed by lower gold and silver prices and lower grades at both of its producing mines, falling 41 per cent in the 2013 financial year.
When the chief executive of an ASX-listed company is getting paid an annual salary of only $110,000, it's a sure sign that money is tight. But not for all, as Business News' quarterly CEO salary survey reveals.
Troy Resources has moved to acquire the remaining shares it does not already own in Azimuth Resources, after meeting the minimum acceptance provision of its $188 million takeover bid.
The new-found restraint characterising chief executive salaries has not extended to Kerry Stokes' Seven Group Holdings, which has announced that new boss Don Voelte could earn $7.2 million each yea
Troy Resources will slash the pay of its senior management, cut its exploration budget and jobs will be lost in Perth and South America, as the gold miner looks to restructure on the back of the fa
Troy Resources has extended its $188 million takeover offer for Azimuth Resources by two weeks, after failing to secure enough acceptances from existing shareholders to close the bid.
Leighton Holdings and Perseus Mining were among the losers from the latest rebalancing of Australian stock market indices, while Automotive Holdings Group and nickel explorer Sirius Resources were
Gold miner Troy Resources has secured $40 million in loans from financier Investec Bank to bolster its coffers as it works through its $188 million takeover of Azimuth Resources.
SOUTH Africa's RMB Resources is not a new player in the Australian market, but it's the kind of financier that is likely to become more prominent as local companies seek alternative funding solutio
While most media attention seems focused on iron ore and the major operators, there's a number of smaller players offering plenty of potential across a range of minerals. Here's the WA Business News 10 mining stocks to watch.
WHEN Silver Lake Resources managing director Les Davis and Integra Mining chief Chris Cairns used the first day of the recent Diggers & Dealers Forum in Kalgoorlie to unveil the $1 billion merg
Gold miner Troy Resources says it is confident on building on its record output from its South American operations, which pushed it to a company-best profit for the year ended June 30.
Gold miner Troy Resources has increased its production guidance for its Casposo mine in Argentina by 40 per cent after preparing a new mine plan to include a significant discovery made late last ye
Troy Resources shareholders have celebrated the official opening of its Casposo gold and silver mine in Argentina, after the Perth-based miner announced a 4 cents per share interim dividend.
West Perth-based Troy Resources has announced it has begun milling ore at its Casposo project in Argentina and expects the first gold will be poured next month.
Gold outfit Troy Resources says it has signed a mandate iwth Investec Bank (Australia), which will provide a $25 million revolving corporate debt facility for the development of the Casposo gold project in Argentina.
Shares in Troy Resources were higher today after the company brokered a peace deal with dissident former chairman John Jones, resulting in three directors, including chief executive Paul Benson, stepping down from the board.
Junior gold producer Troy Resources' plans to raise almost $25 million to continue development at its Casposo gold project pushed down its share value as much as five per cent in trading this morning.
Troy Resources is forging ahead with capital raising plans, today placing its shares in a trading halt despite protests from former chairman John Jones.
Troy Resources' dissident director John Jones has returned fire in an increasingly heated boardroom battle as the company sets a date for the shareholders to decide which directors stay or go.
