TTY 0.00% 49.5¢ territory resources limited

ttys next depth charge

  1. 626 Posts.
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    Well Kiernan sure knew how to pick them. OLY (75% held by TTY) just announced after close today that it is undertaking a strategic review. The other terrible twin and star TTY investment MAL fell into administration last month after its strategic review, so its not looking good for the recoverability of the investment or loans advanced to OLY by TTY. One quick look at the quarterly lodged by OLY on Friday would be enough to give any banker convulsions.

    Chairman of OLY Mal Randall has headed for the lifeboats, something that he and TTY director McCubbing also did last month at that other outstanding TTY investment NMI. Meanwhile NMI has just announced a most interesting 1:1 rights issue at 2 cents which looks a bit like a Stalingrad action by the remaining directors, but perhaps the Titanic analogy might be more appropriate. If the OLY quarterly would give a banker convulions, the NMI quarterly would have a banker requesting the last rites.

    Out of the four companies MAL and MON are in administration, the other two appear to be teetering and on he goes with new ventures to dominate the mining world. MK-the human depth charge.

    Meanwhile the TTY board must just sit there and wonder when the next torpedo will hit.
 
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