If the company can get that far, it'll be doing better than the son of Priam in the Illiad and hero of Shakespeare's Troilus and Cressida, who was dumped by Cressida and then killed by legendary Greek warrior Achilles in the Homeric version.
The developer, helmed by Aguia Resources (AU:AGR) managing director Justin Reid, joined the TSX-V in January after selling off coal, uranium and another gold project in 2017 and changing its name to that of the Quebec brownfield project.
Haywood analyst Pierre Vaillancourt found promise in the Troilus mine itself, which was shuttered in 2010.
"Troilus Gold Corp is inheriting a deposit with a total underground resource of 1.8 million ounces grading 1.5g/t Au," he said.
"Management is planning on developing this resource as a low grade, high volume underground mine, similar to Agnico Eagle's (CN:AEM) Goldex mine."
Vaillancourt said further exploration this year could up the resource by more than 30%.
His estimates for the project are a C$400 million (US$317 million) restart cost for an 119,000oz per annum mine with a post-tax IRR of 17.3%, although a gold price of US$1,400 per ounce is used to get this return.
Haywood gives Troilus a buy rating and target price of C$3.25 per share, a 66% increase on its current level of C$1.96/share.
The Troilus board is overseen by Copper One (CN:CUO) chairman Scott Moore, and it includes former Canadian foreign minister Pierre Pettigrew as a director.
