If ROY slash spending to absolutely minimum (ie $400-500K pa (per year), no exploration) at least $3m cash in the bank now can stretch for 4-6 yrs. Hopefully this will give China enough time to recover.
In the mean time ROY should focus on JV partner. ROY's OPEX is about $69/t so still got $20/t profit left (current iron ore price $91/t), it will be extremely hard to start this project but not impossible. So IMHO keep spending to absolutely minimum until find a JV partner.
"As for an investment or making money from share price appreciation all these companies and thousands more like them in this market are going nowhere"
100% correct IMHO (eg AFR, ARU, FMS, CAP, KBL, RES, SRK etc). Absolutely!!! You can see almost all explorers sp got smashed by 90% with the exception of nickel and may be copper explorers due to nickel and copper prices moving up.
Just IMHO
MFE Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
