Hi Buffet, I agree it's worth a read but probably worth reading a bit closer than you might have.
What size ship are they going to ship the concentrate out in did they say, providing they get to that stage?
And from where did they say?
Don't believe what ROY has stated - check into it for yourself to understand what the actual situation is.
Currently, they are limited to wheelbarrow size ships as far as iron ore is concerned and unless Gov't approval and funding is forthcoming for ports, the whole project is dubious.
The target resource suggested at the % suggested does not guarantee an economical project.
How many IO explorers or producers do you think, before ROY, knew about this deposit and weren't attracted enough to pursue it- 0, 30, 40, 50, >100? All of ROY's substantiation is based on 40-50 year old public information so if anyone guessed under 100 companies you would be wrong.
Buffet, you should check on those two ports you mentioned and the possibility of economically shipping IO through them.
ROY also failed to clarify whether they were planning on shipping the IO or concentrate? One is uneconomical to ship and the other is frightfully expensive to produce.
My view is that ROY is probably offering some great trades along the way, don't get sucked in to a buy and hold strategy just yet, at least not until they themselves have some facts and prove up something.
The preso presented little certainty to me other than some really good trading opportunities for a while. Good luck all.
MFE Price at posting:
14.0¢ Sentiment: None Disclosure: Held
