Forget about all the red herrings being posted about tenure, the...

Forget about all the red herrings being posted about tenure, the fact of the matter is ROY is the beneficial owner of the Razor Back deposit, end of story.

Phil, Marcus and his team would not have spent all the money on the exploration and DFS if they had any doubts.

ROY is the dominant player in the large Sth Aust Braemar Iron Formation and as such I am sure the Directors have some bigger picture plan for the future.

One thing I think a lot of people have missed and this is:

The value of the deposit to date far exceeds the market capital of ROY. What stops the Directors from considering a total sale of the assets and return the sale proceeds to the shareholders. I would venture the dividend would be a huge amount more than the current share price of 6 cents.

Hypothetically say the deposit can be sold for $150 million with the total shareholding at present (not including options) at 335 million, after keeping some working capital in the bank we as shareholders could possibly get around a 25 cent distribution.

The above sell out scenario is one avenue I have been keeping in mind when I hold my shares, the Directors on the other hand may have some other plans.

I cannot for the life of me understand why the price is languishing but can only think this is because of some play by other parties.

It is now important for the total DFS report be published for shareholders to evaluate I would predict we will be pleasantly surprised of the final recommendations.