If a partner gets involved at this stage of events, that will kill whatever chances ROY shareholders have of making money in ROY shares. They will be giving away half the company for a pittance right now and ROY will be raising funds all the way through with the JV partner laughing their heads off.
It will cost $30m just to buy the tenements, let alone drilling, PFS and BFS etc. Say $50-60m at least over the next 3 years. To raise that amount now at around 30c a share will virtually double shares on issue.
Bit by bit is how they should raise it. In any case, I doubt a partner would buy in now with there being no evidence to support an investment as yet
MFE Price at posting:
11.9¢ Sentiment: None Disclosure: Held
