mon in trading halt, page-20

TTY has been purchasing shares & taking up shortfalls in rights issues of companies that MK is a director -

MAL about 25M shares purchased by TTY. MK is a director of MAL. TTY took up the shortfall in the rights issue. Paid about 42 cents per share average. Now worth 31 cents. Loss of $3M

IRL about 16M shares purchased. MK is vice chairman. TTY paid about 13.4 cents. Current value 9 cents. Loss of $700,000

MON about 40M shares. MK is chairman. TTY tookup shortfall in rights issue. Paid about 48 cents current value 28 cents. Loss of $8M

OLY about 100M shares. Unsuccessful takeover. Paid 10 cents current value 7 cents. Loss $3M

According to my calc's losses so far are about $14.7M. No wonder TTY SP has beeen dropping whilst other Iron Ore miners are increasing.

The MON trading halt for an operational announcement is serious as it looks like it will be bad news.