from User ChrisWR out the TTY BoardYou may remeber that I...

from User ChrisWR out the TTY Board

You may remeber that I emailed MK about my concern surrounding TTY's investment in MON. Below is his response


Have been overseas for ten days. TTY mission statement is "An Australian Resources Company" in other words we Dig and Deliver. My family and two close colleagues hold about 40% of TTY. We are a group that has a track record of creating shareholder wealth and as such we always look to positions that will grow the company and contribute future earnings growth together with commodities that will be in strong demand. To that end we see Iron ore, Minerals Sands, Copper and Gold. When we invest in these areas we do so in fully owned subsidiaries to keep the costs separate. No body complained when we took 20% positions in Matilda Minerals or Olympia or a 10% position in Windimurra. We did because we could do so at a significant discount to their future earnings. As it turned out the UK shareholders for WVL realized this and continually gave us grief so we sold the stock and made a $4m profit (20%) in 3 months and moved on. Monarch is trading at less than 50% of future earnings so that is why we are buying the stock. Whether we hold the investment or sell it once listed on the TSX later this year I don't know - but what I do know is we will double our money. MK

this is very positiv !!!!!!!!11