MGT - Magnetite Mines

[YOUNG_TRADER]

Re: ROY - Royal Resources

Hi Riles,

I read the quote again and I still think that the words it alone refer to ROY's 40% interest,

But even if we assume what you have, $40m = 40c for Warriedar alone,

Either way alot of upside for this Iron Ore player

One a side note it has held up surprisingly well given the sell off today

 

[Go Nuke]

Re: ROY - Royal Resources

I have absolutley no idea what you guys are talking about really.

I didn't even see any announcement

Is this the reason ROY has been crashing and burning? Becasue they are going to spin off their Uranium and possibly allow a takeover in the future?

I would imagine that once they have drilled out some of their iron ore targets that the company would get a slight re-rating and a takeover would cost more...which i can then see the upside of.

All I want to know is, if I bought in to ROY at an average price of say 40c.....is all this business going to benefit me..or am I going to lose out

I have NFI

 

[j4mesa]

Re: ROY - Royal Resources

surprisingly they are down today on an up-market today...
also they have a positive announcement on the uranium foundings.......

market is just strange...
on the technical point of view, there is only a little downside risk as the all time low is 15.5 c .....hmmmm from the buyer and seller stacks up , this share seems to be alright...

 

[blues]

Re: ROY - Royal Resources

Did anyone actually understand the announcement from the company today about Egnar drilling results? I have read it and re-read it but still not any wiser if it is positive or not.

Cheers.

 

[Sean K]

Re: ROY - Royal Resources

Did anyone actually understand the announcement from the company today about Egnar drilling results? I have read it and re-read it but still not any wiser if it is positive or not.

Cheers.

LOL, I was thinking the same thing. I read it to mean that they are pleased to announce that they are waiting for some results........

 

[Go Nuke]

Re: ROY - Royal Resources

Well I wasn't that impressed with it and i think the market wasn't based on this bit (even if its early days)

"Four of the six holes intersected the favourable Upper,Middle, and lower rim massive sandstone depositional units with two of the holes recording anomalous though sub ecomomic uranium mineralisation."

But like I said, its early days yet.
Looks to be some good buyers hpoeing to get in sub 0.19c

 

[Georgeb]

Re: ROY - Royal Resources

What is the next support level on this stock?

Why has it dropped so much in the past few weeks?

Any comments would be appreciated......

 

[j4mesa]

Re: ROY - Royal Resources

I guess we will see 16.5 cents maybe for the bottom....or even 15.5.
Though I do not expect them to drop that much.....

They should made some sort of good announcement to make them stay in this kind of market....

I guess 15 is a stop loss limit.

 

[gilbertw]

Re: ROY - Royal Resources

I think ROY is at or near bottom. Negativity is more market sentiment than stock specific, I cant see anything this coy has done to deserve 40% drop in 3 weeks. It will rebound IRON ORE... if it goes lower, take it as a buying opportunity. The management of ROY are not selling USA assets. If it drops to 16 i will buy up but I don't think it will go that low unless DJIA throws another wobbly in the near future... but then that will effect all stocks wont it?

 

[prawn_86]

Re: ROY - Royal Resources

gilbert,

why would it be a buying opportunity?

and i'll think you'll find that management very rarely sell, or at least big parcels, in any stock.

Some analysis would be apprciated.

prawn

 

[wipz]

Re: ROY - Royal Resources

WTF?
Just stumbled by this stock by chance....
Excellent IO drilling results at Warriedar.
Excellent locations.
....... and trading at market cap of 15million!??!?!
Is there something im missing?

 

[Sean K]

Re: ROY - Royal Resources

Potential bottom. 30 cents will be some serious resistance, but I'm tempted here. The funnies have been posted previously. Significant intersections of 60+% fe, along a significant strike can't be ignored for too much longer. Unless there's something up behind the scenes we're not privy too.

 

[Synergy]

Re: ROY - Royal Resources

I'm happy enough calling it the bottom on todays action. Making a little run past 20c. Almost nothing in the way of 30c at the moment. A close around 0.22 would be pretty encouraging. I decided to top up what was a very small holding.

 

[Go Nuke]

Re: ROY - Royal Resources

Yeah I too have been watching ROY the last week or so and agree that things are looking up for their share price.

I too am tempted to find some money from somewhere to top up also....or is that average down...:bonk:

 

[dj_420]

Re: ROY - Royal Resources

Got into ROY today after some more research. I have dug up some info on their other tenements and identified some interesting facts.

BHP has recently released some great results at the Silver Knight area, including 105 metres at 61.5% fe and 129 metres at 59.6% fe. This area of drilling is approx 200 metres from the ROY tenement right in between majors.

The other ROY tenement is also in between AQA, BHP, Hammersley, Hancock and FMG.

I am starting to really like how these tenements are shaping up, drilling program expected to be cleared for these tenements by March. I would like to see some nice extensions from the BHP drilling onto ROY tenements. Note that these tenements are 100% owned. The Marillana, Railway and Perishing tenements are expected to be drilled first, then following up on Prairie Downs, however I think with some field reconnaissance they may find some nice drill targets on the tenement adjoining BHP.

The ones documented in this post are the Prairie Downs projects. I will post further research on other tenements of ROY when I have grabbed the maps.

From here it really seems like ROY are comparable to UMC or TLM with such high quality tenements in between majors at every turn.

I think technically and fundamentally this stock was sold off way to much. ROY have some great JV with GBG and many 100% owned tenements that will provide basis for drilling programs this year.

Technically seems to have found a bottom, market depth is looking much more favourable now.

 

[dj_420]

Re: ROY - Royal Resources

Here is there other tenement for ROY, the Railway prospect. Looks pretty good again, surrounded by majors. The only trouble I am having is locating some drill results for neighbouring companies. FMG/RIO/BHP do not like to actually release drill results with the tenement identification attached!!!

If anyone can dig up some results on neighbouring tenements in this area would be greatly appreciated.

 

[dj_420]

Re: ROY - Royal Resources

Kennas I think this has just been oversold. Chartwise it is very choppy, doesnt trend very well or stay in trends too nicely. BUT, uptrend broke during correction, trended sideways action for a bit and then a fairly well defined down trend.

Recent days action has seen 21 day SMA cross, the MACD cross and the stochastics pointing to oversold. Looks to me to have broken downtrend, needs to stay above 20 cents to confirm. Build new base and attack resistance levels at 30 cents and then 35 and 45, see how this one goes. Does look choppy in trade due to thin volumes.

 

[Bushman]

Re: ROY - Royal Resources

I agree with you DJ - to me it is the most oversold of the juniors. Many stale bulls had to fall on their swords though before the down trend was to be broken. IMO it has stabilised and formed a bottom in the 17 to 19 c channel; so I have jumped in today now that it has broken out into the 20's. Goodish volume so a good time to return. Not too much downside either.

GBG JV looks good with excellent Fe hots at depth. Pilbara tenements are in the right spot and drilling is starting on these so if there is any extensions of ore mineralisation into ROY tenements, watch out sp. Lets see how it goes.

 

[Sean K]

Re: ROY - Royal Resources

Got into ROY today after some more research. I have dug up some info on their other tenements and identified some interesting facts.

DJ, thanks for the maps and charts mate, much appreciated. They certainly have some fertile ground by nearology and the rock chip samples. Hopefully there's some more underneath! Looks like a clear bottom and the last few days have been great. Volume has crept up, and nice finish this afternoon.

 

[Sean K]

Re: ROY - Royal Resources

BHP has recently released some great results at the Silver Knight area, including 105 metres at 61.5% fe and 129 metres at 59.6% fe. This area of drilling is approx 200 metres from the ROY tenement right in between majors.

DJ, How close is GIR's tenament and does the strike run into ROY? I'm trying to find a decent map at the moment. It looks like it MUST by your map above.

GIR ann today:

THICK ZONES OF IRON ORE INTERSECTED FROM SURFACE AT
100% OWNED WESTERN CREEK PROJECT

• Thick near-surface intersections of direct shipping ("DSO") Marra Mamba iron ore mineralisation from initial drilling of Giralia's 100% owned Western Creek project, testing direct extensions to BHP's Silver Knight iron ore deposit (10 kilometres west of Newman).

Initial results include:

42 metres @ 59.1% Fe from surface, includes 34 metres @ 61.1% Fe

44 metres @ 58.4% Fe from 2 metres, includes 28 metres @ 60.4% Fe

34 metres @ 57.2% Fe from 6 metres, includes 16 metres @ 60.5% Fe

The Directors of Giralia Resources NL ("Giralia") are very pleased to report significant iron ore intersections from initial RC drilling at the Company's 100% owned Western Creek iron ore project, located 10 kilometres west of the town of Newman in the Pilbara Region of WA.

This might be significant for ROY also...