Royal Resources could be worth some research. It recent ASX...

Royal Resources could be worth some research. It recent ASX announcement on Razorback Ridge is certainly worth a read.
Positives:
1. ROY has a very low Market Capitalization of about $28m based on a share price around 30 cents.
2. Large iron ore target of 500-1,000 Mt @25%-65%Fe.
3. Easy access to existing under utilized rail and port.
4. Supportive State Government, low royalty regime.
5. No Native Title or apparent environmental issues.
6. Fast track to pre-feasibility study.
7. 40 Kilometres from existing 10Mtpa capacity rail line & only 170 Kilometres to Port Pirie. Rail cost will be less than A$7/Ton.
8. Two uncongested ports available .i.e. Port Pirie & Port Bonython.
9. Acquiring surrounding Exploration Licences 1,454 sq.kl., so potential of for further resource to be discovered.
10. ROY has an excellent chart & looks like it wants to break out. Also set a new 260 Day Yearly High last Friday which is always a good sign.
Negatives:
1. ROY currently only holding about $2m cash, so probably will need to do a capital raising fairly soon to secure the project.
2. ROY will need a major project partner to enter on a Gindalbie-Ansteel Model. But remember GBG at the current price of 87 cents has a Market Capitalization of $604m cf ROY currently about $28m., so there is plenty of room for upside to the ROY market capitalization.
References: ROY ASX announcement on Razorback Ridge Presentation.
Please note ROY is a highly speculative stock & no investment advice is given, so please do your own research.
Regards
Buffett