westaussie,Westaussie you are forgetting one important factor...

westaussie,

Westaussie you are forgetting one important factor when you quote ROY is it is a new project requires several billion to start and most steel mills have no money. Chinese banks have I think 40% bad loans already. In Western countries, those banks would have been bankrupted like Lehmann Brothers.

Most well-respected people say Roy Hill (mostly self-funded) is the last iron ore project to start. Other projects will struggle to get funding. There are FMS & BCK on the waiting list.

Do you agree ROY needs to cut down salary payments? March quarterly stated will spend $1m in June quarter on wages. Cut spending and conserve cash... get JV partner first. Why holders are suffering from 3-4c sp?

In current environment, micro-caps need to cut spending to minimum. Drill programs have not result in higher sp.