re:territory resources ltd, page-6

I have just sent the following to MK and received the response. I believe there are many investors like me that are concerned that the story that MK is telling isn't consistent. I like TTY, but all this shuffling on MK's behalf is making people nervous. I also don't believe there will be any meaningful sp move until the resource upgrade comes in the 2nd Q.

On the positive, I would find it strange that there was so much support from players like DECO and Noble if this wasn't a good story.

Hi Michael

I have been an investor in your company now for over a year, as are many of my colleagues and family.

I firmly believe in the TTY story but need to get clarification on a strategic move that you have made, as it's making many of us uneasy. I also note that the stock market forums are airing similar concerns as well as being reflected in negative sp movements.

Your stated position for TTY was to become a diversified carbon steel manufacturer of a market cap of 2.4b, which we wholly supported. You also stated recently that MON was not part of the long term strategy for TTY.

Why then have you invested our money into a 5% stake in MON, when it looks like a shaky prospect with no strategic alignment?

Before I invest more heavily into your company which I have been planning to do, I need some guidance on this extremely important development.

Thanks in advance for your considered response.



His Response
Thanks for email. Am travelling until 8th and will respond more when back. In short TTY will always take positions were we can make money.
MK