Often, when things look bad, that is when you should be buying....

Often, when things look bad, that is when you should be buying. I too bought in back in 2007 at 36c and saw ROY drop all the way to 4c, and then they acquired razorback and we all know how the SP 10 folded in just 3 weeks in 2009. I sold out at a profit then. Since then I have bought back in holding 20 times my original 2007 holdings. I hardly think this company is fairly valued at $11m market cap, but for those shareholders who don't take up this offer, you will in effect be sealing this company's fate and make it harder for them to advance the project.. The only other options they have is convertible notes or possibly selling uranium assets or asking major shareholders for a private placement.

Questions shareholders need to ask is: what is a true value of ROY assets? Is there upside in proven resource? Is there upside in spot iron ore price? Do directors own shares? Is the management sound? Is ROY a potential takeover target once the project moves forward? And most importantly, do you believe you will make a profit on your 4c investment?

All these questions I have considered and I do believe management's case is compelling.

ALL above IMHO