The company will be in a strong position once it owns razorback....

The company will be in a strong position once it owns razorback. The price to pay is already heavily discounted and that discounted rate reflects the iron ore price as it is. One capital raising in 5 years is pretty good in my view and to use the funds to buy a discounted asset is even smarter. It allows ROY to move forward without the risk of losing the asset through lack of funds. I for one will be subscribing for the maximum allotment and HOLDING for the long term. This is a bargain in my view. They could have done it at 5c per share with a bonus share for x number of shares and that would have held the share price up. But its not about the share price per-say its about the value of the resource and that's far more than 4c imho. As for the Iron Ore price, remember ROY commands a $20 per tonne premium and even at $75 tonne it is very economic. The current iron ore price is irrelevant. They aren't producing any iron ore. The Iron ore price in 2018 is what matters and as the smart investor knows.... these things move in cycles. Taking up this offer will result in a multibagger of 4c IMHO and that is why I will buy all $15000 available.