Company Information for Troy Resources NL

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Company Statement

Troy is a highly profitable junior gold producer with operations at Sandstone in Western Australia and the Andorinhas Gold project in Para State, Brazil.

The Company has forged a proven record of fast-track mine development, low cost operations, strategic acquisitions and exploration discoveries, which combined with a strong commitment to health and safety, environmental stewardship and social responsibility, has seen Troy’s total production grow to over 100,000 ounces of gold per annum.

Troy is positioned to continue its path of strong growth and profitable operations and is well on track to achieve its vision of becoming a highly profitable mid-tier gold producer with a portfolio of quality long-life assets.

Troy has a strong commitment to exploration, spending over $7 million annually. This commitment has seen Troy discover the Lords deposits at Sandstone and expanded the resources at the Sertão Project in Brazil, which has resulted in Troy growing its resource base to over 1Moz. The Company maintains a robust balance sheet and our existing mines are forecast to continue to generate strong cash flow. Troy’s gold production is unhedged providing 100 percent of the gold price upside to shareholders while protecting against downside risk with low operating costs.

Current Operations

Western Australia
Sandstone
The Lord Nelson and Lord Henry Prospects are located in the south western corner of the Sandstone Greenstone Belt, approximately 30km from the Bulchina mine.  The deposits occur approximately 3km apart along the N-S trending Trafalgar Shear zone.

Mining of the Lord Nelson and Lord Henry deposits were completed in December 2007.

Approximately 700,000 tonnes of ore has been stockpiled at the mine and mill ROM pads and this will be processed over the next 18 months.

A total of 149,340 bcms of material was mined from the Lord Henry pit during the December 2007 quarter, this included 119,956 tonnes of ore grading 3.32 g/t of gold.

Brazil
Andorinhas Gold Project
In November 2006, Troy Resources acquired the Andorinhas Gold Project (“Andorinhas”) in Brazil from Agincourt Resources Limited (“Agincourt”).

Under the agreement Troy purchased all the shares in Agincourt Resources do Brasil Ltda which holds the mining leases of the Andorinhas Project. The purchase price was US$10.14 million cash of which US$9.14 million was paid on 30th November 2006 and the final US$1.0 million will be paid after completion of all transfers and approvals.
 
Troy believes the project area offers considerable exploration potential and are hopeful of adding further resources in the medium term. In June 2007 Troy announced the first resource and reserve estimates for Andorinhas  that included a reserve of 255,980 contained ounces of gold which equates to a five year mine life at  the current planned production rate.

SML Brazil Operations (Troy 70%)
Mining at SML was completed late in July 2007 and the last ore was treated in August 2007. Site rehabilitation continues with the processing plant being moved to Troy's new Andorinhas operation in Para State in northern Brazil.

The Sertão Operation processed 24,073t at a head grade of 3.75g/t Au with a 71.1% recovery for gold production of 2,063oz during the eight weeks to 27 August 2007.

The Sertão Operation produced 29,789oz from March to June 2003, 86,335oz in fiscal 2004, 69,580oz in fiscal 2005, 59,306oz in fiscal 2006, 21810oz in fiscal 2007 and 2,063oz in the current financial year for a total of 268,883oz. 

Geographical Spread

Brazil, Australia, Mongolia

Board of Directors and Key Management

John Jones, Chairman

Paul Benson, Chief Executive Officer

Ken Nilsson, Director Operations

Gerry Kaczmarek, Chief Financial Officer/Company Secretary

Peter Doyle, Vice President Exploration & Business Development

Directors & Non-Executive Directors

Gordon Chambers

Tommy McKeith

John Dow

Dr Denis E Clarke

Alan Naylor

Company Address 44 Ord Street, West Perth, Australia Perth, Australian Capital Territory, Australia 6005 Telephone: 618 9481 1277 Facsimile: 618 9321 8237 Email: enquiries[at]try.com.au Website: http://www.try.com.au

Annual General Meeting November

Year End 30 June

Broker/Analyst Reports

16/05/07 - Exploration Review - May 2007, Aegis Equities Research

Major Shareholders

HSBC Custody Nominees (Australia) Limited	9,291,910	13.31
National Nominees Limited	6,061,555	10.00
CDS & Co	4,883,400	6.99
Warrigal Pty Ltd	4,773,600	6.84
CDS & Co (NC1 A/c)	4,290,967	6.15
J P Morgan Nominees Australia Limited	4,185,163	5.99
Gold Fields Orogen Holdings (BVI) Limited	3,130,400	4.48
ANZ Nominees Limited	3,094,682	4.43
HSBC Custody Nominees (Australia) Limited	2,890,170	4.14
Warrigal Pty Ltd	1,383,200	1.98

Related News

19/06/08 - Troy Discovers That There’s An Awful Lot Of Iron Ore In Brazil
01/08/07 - Troy Resources Seeking Dual Listing In Canada Following Success In Brazil
21/02/07 - New Troy Ready To Expand Onto The Global Stage

Most Recent Statement

16/06/08 - Operations Update
29/04/08 - Colluvial Iron Ore Study Andorinhas Project Brazil
28/04/08 - Full Results for First Drill Hole at Two Mile Hill Prospect
16/04/08 - Troy Resources NL Drilling at Indomitable Prospect Sandstone
09/04/08 - Press Release Drilling Results Two Mile Hill Prospect
08/04/08 - Temporary Andorinhas Production Interruption