Ann: Royal Completes Placement Agreement , page-6

Very interesting move to do a share placement before resource upgrade. This caught me by surprise, given they got a bit of cash already.

I wonder if resource upgrade is very good, so $0.18 placement is already at discount. Or resource upgrade is not so good, placement is at premium price already.

To get an extra cash, looks like Marcus is pushing very hard to do further drillings & PFS by 2011 end. In SA region, looks like ROY is ahead of pack of iron ore explorers.