Troy on the rise

Goldminer Troy Resources more than doubled interim net profit to $8.3 million, up from $4.1 million previously. Executive chairman John Jones attributed the improvement to the low-cost Serto mine in Brazil which is approaching the end of immediate reserves. Mr Jones said there was a possibility of an extended mine life as well as "high hopes" for development of a new mine from within the Antena cluster project area. He also said the proposed start of mining at the Lord Nelson and Lord Henry deposits near Troy's Bulchina facilities in Western Australia would underpin a strong future performance. Yvonne Ball