Trio Resources Inc (TRII)

[DragonBear]

there is estimated to be 300 million tons-nonsense

Not even the bogus Evans&Evans report made such a claim. The two largest quantities given were:

350K MTs for the tailings pond. Waste run off from the prior 1990 mining at 0.7 oz/MT. Essentially worthless. No silver mining company in business can concentrate 0.7 oz/MT waste material, yielding a profit.

900K MTs for the muck pile. Claimed 10 oz/MT.

So where did the 300M MT figure come from???

Neither has Duncan filed an 8K for his assays, associating samples with the tonnage they represent. That's right - TRII is a SEC filer, and any fantasy $103B valuation as suggested, would be a material event requiring an 8K. So where is the 8K? Of course back in 2003 Duncan paid a grand total of $51K for this fantasy.

What one has is an assay of 126 samples representing something. Unknown whether it represents 900K MTs, or 0.5 MT total. Where the later figure would not be a material event requiring an 8K. So keep watching for those 8K EDGAR filings not appearing. Once again Duncan keeps his stockholders in the dark. If he has volume 34 oz/MT material all ground up, then ship it. Requires no concentrating at that level. The latest farce will end quickly come the Dec 10K showing little to no revenue.