sellers got it wrong

Half year report is VERY positive.

Biggest concern has been the $2 Mil to be repaid to TTY on the 27 June 08.

Seems like they've got plenty of overdraft to pay this off with both a $750k overdraft with the NAB, a $7.5 Mil equity standby agreement, and OLY has received a commitment from a broker to assist in the equity raising of up to $5 Mil.

Based on the above I'd doubt the directors are going to reccommend the TTY takeover offer, plenty of upside to this now - TTY threw the bid in now realising things have just turned the corner - I unfortunately think they've waited a few weeks too long.