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BRIEF-Troy Resources updates on convertion of currency of loan facility and resets hedging

Published 14/09/2015, 12:04 pm
BRIEF-Troy Resources updates on convertion of currency of loan facility and resets hedging
TRY
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Sept 13 (Reuters) - Troy Resources Ltd TRY.AX :

* Try to convert currency of loan facility and resets hedging TRY.AX

* Has initiated the process of converting troy's A$100 million loan facility with investec into a us$ denominated arrangement

* Agreed a reduction in its mandatory hedging requirement from 100,000oz to 75,000oz of gold realizing a gain of approximately US$10 million

* Says reduced hedging profile has an average price of just over us$1,100/oz

* Conversion also serves to lock in benefits gained from recent weakness in the local currency during the construction of karouni"

Source text for Eikon ID:nASX92ntGs

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