In a sea of red MON is holding up rather well today.TTY...

In a sea of red MON is holding up rather well today.
TTY buying..? Maybe. However, the fundamentals are
also looking better:

1) Monarch expect to be cashflow positive from the
Davyhurst operation next month. Whoa! New revised mine plan should increase gold production and drive down costs.

2) Monarch will take possession of Mount Magnet within the next 2 weeks, and have in place an immediate
exploration program across the tenement package to establish priority targets within the known areas of mineralisation.

3) Gold is taking a hit, but should find support around
USD 920 and then bounce back above the USD 1000 level.

4) MON resource base of more than five million ounces of gold and 3 state-of-the-art treatment plants - with a
market cap of just AUD 84 mio - inground value: $17/oz.

5) Monarch intends to investigate the economic iron ore potential in the Mount Magnet area. TTY task?

6) A new force in the Australian resource sector (TTY, MON and IRL) might indeed be in the making as Hain pointed out - TTY is now a major MON shareholder.

Cheers to all MON long term investors!