As they all drink Dreamberry Wine, they reminisce about things. Picknose and Maggoty show Cutter and Skywise the secret of New Moon (the key hidden inside the pommel). Then, when asked, they tell what happened to the trolls of the caverns...

A brief history, once all the known trolls lived in the far north, but as the "ice-sheets" (glaciers) moved in, it got colder and colder and it got hard to find food, etc, so they moved south (to the caverns we know) but after a time, Guttlekraw and some followers wanted to return to the north for some [unknown] reason, so Greymung and some followers basically ran them off and sealed any tunnels behind them. But over the many many years, Greymung got fat and lazy and shortly after the WolfRiders were tricked through the Tunnel of Golden Light, Guttlekraw returned with an army, killing any they didn't capture. What they did with the dead is not to be mentioned (ick). But Picknose grabbed Oddbit, whom he loves, and with Maggoty, escaped into the open air and sunlight--brave troll!

When asked about the key he tells the two WolfRiders of how Two-Edge (and who Two Edge may be) whispered the secret of New Moon to him as he returned from the Tunnel of Golden Light and how he cursed his bad luck that the key to the "golden hoard" was now lost in all that sun. Then they start reminiscing about Bearclaw and Picknose makes the mistake of stating that Bearclaw would have been an excellent Troll, which enrages Cutter.

He attacks Picknose as Skywise sneaks some of Maggoty's sleep-powder and throws it at the trolls, but it has no affect, so they jump out the window ♦send♦ing for their wolf-friends. Picknose catches Skywise's shackles, but he slips out of the troll-sized cuffs, since they were clearly not made to hold elves. The four run away. Picknose isn't too terribly upset...

Cutter removes his shackles and complains that now his sword is ruined, with no pommel and Skywise shows him that he filched the pommel-key. New Moon is fixed! Then Picknose realizes the key is missing... oh no!!!