! billion tonne resource

Good to see renewed interest in ROY today which is expected to announce an increased resource of 1 billion tonnes in early 2012.

Drilling is well underway and with the imminent settlement of the sale of the Warriedar J/V, ROY will have approx $20m cash at bank (6c per share) and is well funded to continue to progressively prove up a resource estimated at between 4.8 billion and 8 billion tonnes.

The location of the deposit near existing infrastructure - rail, power, water etc augurs well for the viability of the project and ensures low CAPEX when compared to other iron ore producers.

In addition, a pre feasibilty study for a 10m pa delivery is also expected to be finalised shortly and when released should re-rate ROY for additional upside in the SP IMO.

The top 20 shareholder list remains tightly held and accounts for just under 50% of the stock.

Good luck to all holders.