Can you describe your company and say what it does?
Troymet Exploration (TSX: V.TYE, Stock Forum) is a junior mineral exploration company with three high-potential properties. The flagship “Key” property is located immediately adjacent to New Gold’s Blackwater property, which hosts the Blackwater gold deposit and is projected to be in production by 2017. Troymet plans to conduct a major exploration drilling program on the Key in summer 2012.
What distinguishes your company from others in your space?
Troymet’s properties have a high-discovery potential. The Key project in particular is significantly under-explored, while being adjacent to and having similar geology with a developing gold mine.
Can you explain why you have chosen to work in Western Canada?
Troymet is headquartered in British Columbia so the costs of exploring our B.C. properties, which are road accessible, are greatly reduced. The specific geological setting of each property also increases the potential for the discovery of large mineral deposits.
What are your flagship projects?
The Key project, located immediately adjacent to New Gold’s Blackwater property and future Blackwater gold mine. The property shares a similar geology to Blackwater and is significantly under-explored.
What are the main challenges that you face in operating your business?
Controlling exploration costs and maintaining a strong treasury.
Who are your competitors?
The major competitors are in the area of the Key project – companies such as RJK Explorations, Parlane Resources Ltd., Independence Gold Corp. and Amarc Resources Ltd.
Who are the major shareholders of Troymet Exploration?
Management and insiders hold large positions. The majority control is in the market.
How much cash do you have on hand and what is your monthly cash burn rate?
Troymet has working capital of $1.9 million. The G&A monthly burn rate is approximately $22,000.
Who are the key players on your management team?
The management team is small and technically highly skilled, consisting of a President, VP Exploration and CFO.
What kind of experience do they bring to the table?
Management has extensive experience in their respective fields as well as managing junior public companies. They have worked together for several years and have participated in the sale with accompanying Plan of Arrangement of two predecessor companies.
Disclosure: Troymet Exploration is a Stockhouse client