With no production in process, Australian gold mining company Troy Resources’ operations here have been placed into a care and maintenance phase.
A source familiar with the company’s affairs told Sunday Stabroek that the gold producer has laid off a percentage of its mines staff. A skeleton staff system remains to engage in care and maintenance work.
Company Secretary Rebecca Broughton, in a notice to shareholders, announced that the company has requested a further suspension of trading on the Australian Stock Exchange. She explained that the voluntary request is necessary for the completion of a recapitalisation of the company.