good on you management - all credit to you!, page-4

There is no doubt that ROY will develop into a major supplier of Magnetite in Sth Aust, and I would suggest sooner than later the way Marcus operates.

The billion tonnes is more than achievable.

The placement last week highlights the confidence the board has in this project as no investors would take the plunge in the current climate if they did not have full faith that the project is worthwhile.

So where to now. ROY will drill on and quickly reach their goal of 1 billion tonnes and seek some major to help them with the final funding.

Who will the major be? And what are the Chinese shareholder Sing Tangs intentions. I would like to be a fly on the wall in ST boardroom when the placement was announced. If they have aspirations on continuing in this field they would need to launch a full blown takeover bid.

The potential of controlling 1 billion tonnes + of magnetite in a safe political state will be a major factor in an incoming partner?s decision.

I suspect ROY?s board will be very nervous at present owing to the SP being at so low levels, the reasoning why this is so escapes me. Without being paranoid I suspect a player keeping the price low ready to strike when ROY has tidied up and disposed of the other projects and get the cash in the bank.

The latest investors will be the key in any takeover and of course they will want a handy profit on their investment at 18 cents a share.

Stand by for some action in this highly undervalued stock.
DYOR, the above are my personal views only.