monarch plan re-listing as 'swan gold', page-6

Tusker,

The terms have previously been agreed (last quarter - 2009). TTY receive 100% but are repaid over two years - have already received a payment of $3 mill which was forwarded to Noble.

TTY and Noble also have an agreement that Noble will immediately receive the monies in part satisfaction of its loan.

If TTY receive the money it will make a substantial impact on the debt to Noble.