The appointment of major share holder Gordon Toll (founding...

The appointment of major share holder Gordon Toll (founding Chairman of Fortescue Metals Group) as a Director, who from memory paid circa 13c per share for a large portion of his share holding, together with the move of the ROY office to Adelaide where he is relocating to is a major step forward in the progression from pure explorer to that of an eventual producer.

Toll has agreed to fund approx. $1 billion towards the mining process which represents a major reduction in capex to ROY.

The appointment of Toll, who has a proven track record of iron ore development together with the financial clout and contacts to make things happen, is a positive move forward IMO.