Ann: Quarterly Activities Report September 2014, page-29

Guys reading the quarterly here is what I see .
Asic at over 1100
hedges for next year only a small proportion of production
troy will be hit hard on revenue side due to big fall in silver - only 1.5 oz hedged
Troy will have 100 m debt with only one project really contributing and that's assuming they can actually produce at AISC of 600 . Haven't seen anybody achieve this yet
so I believe the risk is TRY is taking in debt at a time when gold and silver are very weak . Any cost over runs or higher OPEX and they will need a large dilutive raising