Ann: Clarification relating to unsubstantiated ru, page-3

re: Ann: Clarification relating to unsubstant... I dont think Marcus was very impressed by unsubstantiated rumours & opinions aired by anonymous individuals--you have to be suspicious of intent when a non-holder would want to intentionally devalue a stock.

Royal Resources shares have been over-sold in my opinion.

I am aware of higher capex for magnetite developments.

A stranded hematite deposit could be more expensive.

The trump card for Razerback is access to infrastructure:

Ports--Rail--Mains-Power--Labour--Adelaide to name a few.

I will continue to hold a stake in one of Australia's largest undeveloped magnetite deposits.

Cham