price firming on the sound of pennies dropping, page-13

ScottyT,

ROY spending $1m per quarter on salaries and more on drillings. They already got several billion tonnes of iron ore, why do more drilling? Why spend so much on salaries?

My other investment PEX only spend $200K/quarter on salaries and look at PEX's sp (I made big $$$).

Look around you, how hard it is for micro-caps to raise money and ROY spend big on salary and drillings.

They should be getting JV partner ASAP before spending any more money, especially drillings. I remember ROY many years ago sp was much higher (20-30c) and <1Bt, now 4Bt sp at 4c. Every dollar spend on drillings have not result in high sp and better return for investors.

Iron ore price IMHO needs to be $200/t to justify the need for a NEW multi-billion dollar project.

If iron ore trade around $150/t big players eg BHP, RIO, FMG, Vale will just increase productions to hold price at that level and this will reduce the need for a NEW multi-billion dollar project.

So IMHO if you're not in production of iron ore, you already missed the boat.

If you're in production, you need to do on massive scale like FMG not 10-15mtpa.

Just IMHO.