hi westaussie good to hear you are on board. you may have read my post already about the issues for the share price due to the options offer. i dont see the share price going much lower than the 17-18c level until May. it may move up with some good drill results though.
Trade4profit mentioned the 230 million tonne existing resource. i assume that poster had good reason for stating that level. most likely seen the original non-jorc resource somewhere.
I believe these figures are likely as they have paid well for the tenements and would not have done so without reasonable confidence in those figures.
I was looking at Brockman Resources today and noticed some similarities in the proximity to rail...not as close to port as far as i can tell...not sure about living arrangements for staff either. They have 1.6 bil tonnes of resources where as Royal has a target of 500mt - 1 bill tonnes. I assume they have put realistic medium term targets not their best case targets down. Brockman is around $530 mill Market cap and Royal around $50 mill. I think this leaves plenty of room for share price appreciation over the next year or two.
CI
MFE Price at posting:
19.0¢ Sentiment: LT Buy Disclosure: Held
