time for change

Is it True That:
1. Shareholders have contributed in excess of $43M to Royal since its float in 2006, whilst the market capitalization this year has been only $10M to $20M?
2. Even after the falls in Royal’s share price over the last 7½ years, there is still mainly the same Board and CEO?
3. A majority of the Royal Board members are also on a related company Thundelarra, that is also struggling for survival?
4. A different skill set is needed to take the company from the exploration phase through development to commercialisation? Do the Board and CEO have these skills and track record?
5. Thundelarra CEO’s salary been reduced to $150k, whilst that for the Royal CEO is still in excess of $400k, even after Royal’s belated cost reduction measures?
6. The Royal CEO has been paid about $2.5M during his time at Royal, yet the share price has plummeted from 20 to 25 cents down to 3 to 6 cents? Is it true he still received bonuses?
7. The Razorback deposit outcrops to the surface and is easy to find, yet Royal spent millions of dollars on exploration when it did not need to? Is it true Royal is now running out of cash?
8. The pre-feasibility study was to be completed by the end of 2011 (as per 2010 AGM)? It is reported that this study work is still continuing, making it almost 2 years late.
9. That shareholders have not been informed on what offers (if any), have been received and rejected by the Board for either Royal as a company or Razorback as an asset? If they have not been received any, why not?
10. There is still a Perth office even though Razorback and the SA/NT exploration programme would be logically run from the Adelaide office?
11.
Questions on Royals’ ASX Announcements
1. ASX 30/1/13 “Razorback returns a positive PFS”: Has the proposed testing confirmed that will recover the additional 2.0mtpa of iron concentrate for this case (20.5% recovery)? When will the market be informed? What is the project’s rate of return (%) and is this case still financially attractive, if the testing failed?
2. ASX’s Sep 13: Why is there no update to Razorback’s Capital Cost of $2.2B, since ASX 30/1/13, especially after all of Royal’s documented optimisation work?
3. ASX 30/7/13 “4th Quarter Activities”: Now reports on the N.T Uranium and Gawler Craton tenements – is Royal ramping up its non- Razorback exploration activities? If so why? Are there now doubts on Razorback?
4. ASX 22/8/13 “Cost Reduction Measures - Royal retains the core staff to enable it to ramp up quickly for a Feasibility Study when conditions allow” & ASX 30/7/12 “Appointment of GM to drive Feasibility Study” Who is left in Royal? Has the above GM been retained?