My recollection is that TTY owed (as at Aug 09)Noble approx A$66m some of which is held in $US. This debt was reduced from from the profit made in the Sept quarter - I think the payment was $6m. There is a contingent asset of approx $23 million which was to be repaid to TTY over two years with the proposed sale by the administrator of Monarch Gold - this sale had a recent hiccup thus the drop in the recent drop in the sp. The indication is that more will be known about the sale at the end of January. All payments from the Monarch sale are to go straight to Noble and I believe a payment of approx $2m was made around Sept from that sale process. As Rocket is saying in his recent post there was an announcement in November about moving forward with Noble potentially swapping some debt for equity but nothing further has been said. This post is based on memory but I do not believe the figures are far out.
TTY Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
