Agree risk/reward seems very favourable during 2014 and it's nice to pick eyes out of the bottom for once.
Personally I'm not sure that even a drop to $1100/oz we'd now see a new low for TRY given sentiment was too extreme at the time and is now unwinding across the sector.
TRY has been slower to move compared to my other recent hold (SLR) but is a lower cost producer despite not having the natural AUD hedge, has the benefit of exposure to both Au and Ag and is financially well backed. I suspect in time it's a big candidate for takeover by a North American or Canadian peer.
A few cappers were unsuccessful this morning and that may mean they'll cover and move on near term. But maybe not.
All of the above is just my personal perspective...backed up with a few tangible facts.
TRY Price at posting:
88.0¢ Sentiment: LT Buy Disclosure: Held
