Given the fairly dire state on MON in the at least the short term, it is I guess possible that TTY could takeover them over. I don't know know enough about TTY's balance sheet strength or the Board's view to make a judgment.
However assuming this does not happen, I think MON's share price will remain under pressure until the Mt Magnet sale is completed at it is clear what MON have had to do to effect it. Also, it needs to made clear what conditions have been attached to the loans made to MON by (presumably TTY). Thirdly, the June quarter production needs to be good.
They may be getting some decent drill results, but the market doesn't really care about this. The main goldie I own (DIO) has been wacked very hard in the last couple of months for little reason other than taken the hard decisions in expensing pre-strip costs and reporting them up front.
Good luck to MON holders!
MON Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
