MGT - Magnetite Mines

[Sean K]

Re: ROY - Royal Resources

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.

Doesn't look the same on this map. There's just a small gap between GIR and BHP, which I assume is ROYs. Not much distance between them for some potential tonnage. Good nearology though.

This is from GIRs last presentation on the BHP drilling:

Direct extensions to BHP'sSilver Knight iron ore deposit identified, with outcropping high-grade MarraMamba iron ore mineralisation exposed on Giralia'sground, grades to 63.5% Fe.

Reports on adjoining BHP operated mining lease (recently released to open file) include drill intersections of 129 metres @ 59.6% Fe, and 108 metres @61.5% Fe close (less than 200 metres) north of the boundary of Giralia's tenement.

So, lets hope those extensions go a little bit further north. Surely this will be part of their drilling to begin in March?

 

[dj_420]

Re: ROY - Royal Resources

Doesn't look the same on this map. There's just a small gap between GIR and BHP, which I assume is ROYs. Not much distance between them for some potential tonnage. Good nearology though.

This is from GIRs last presentation on the BHP drilling:


So, lets hope those extensions go a little bit further north. Surely this will be part of their drilling to begin in March?

Hey Kennas, remember ROY has that little sqaure tenement to the left of GIR tenement. South east of the BHP Silver Knight deposit found.

If you look at my map it shows they have tenements above GIR and next to them. BHP resource actually looks like it gets deeper as it progresses east, which is where ROY little sqaure tenement comes into play!

 

[Sean K]

Re: ROY - Royal Resources

Hey Kennas, remember ROY has that little sqaure tenement to the left of GIR tenement. South east of the BHP Silver Knight deposit found.

If you look at my map it shows they have tenements above GIR and next to them. BHP resource actually looks like it gets deeper as it progresses east, which is where ROY little sqaure tenement comes into play!

Yep, but looks to be a small area. Crystal ball is telling me possible BHP/GIR/ROY JV. SHould we propose it?

More great results from GIR this am.

• Assays for a further 7 holes just received from initial drilling of Giralia's 100% owned Western Creek project (10 kilometres west of Newman) show more thick near-surface intersections of direct shipping ("DSO") Marra Mamba iron ore. New results include:

50 metres @ 60.4% Fe from surface,
42 metres @ 60.2% Fe from surface,
38 metres @ 58.6% Fe from 10 metres

• The new results are considered highly encouraging as they show thick zones of significant mineralisation as direct extensions to BHP's Silver Knight iron ore deposit now extending to the limit of Giralia's drilling to the south and west.

 

[Sean K]

Re: ROY - Royal Resources

Here's a map with the tenaments a little clearer. ROY really only have a minimum claim there, but they have one. Should find some iron there you'd imagine with the BHP and GIR drilling intersecting high grade fe all over the shop. Need to see GIR drill results for details.

 

[YOUNG_TRADER]

Re: ROY - Royal Resources

So thats whats causing the re-newed interest in ROY, them GIRilia results

Interesting, thanks DJ and Kennas, will be interesting to see what eventuates

 

[Nicks]

Re: ROY - Royal Resources

Yep i've jumped in with a small holding on both. With the increases in iron ore prices these seem like good small caps to get in with.

 

[blues]

Re: ROY - Royal Resources

I have just had a chat with the Exploration Manager of Royal Resources and looks like all is on track for drilling to commence in March. He is heading upto the Pilbara early next week to get the last paperwork and approvals completed. They will have a drill rig available in the next fortnight and plan to drill the Railway prospect first followed by Marillana and then Prairie Downs. Also said they are very excited about their JV with Gindalbie and especially the Shine prospect. There are plans at present to do more work there in the next few months. All up in the next few months there will be alot of things happening which hopefully will get the share price moving.

Cheers

 

[blehgg]

Re: ROY - Royal Resources

Anyone know if the recent ROY drop due to the drop in the US? Or is there something I should be more concerned about?

 

[Sean K]

Re: ROY - Royal Resources

Anyone know if the recent ROY drop due to the drop in the US? Or is there something I should be more concerned about?

Part US I think, most stocks have come off I feel. May be a little consolidation after the strong bounce up. Or, maybe we should be concerned....I can't see why though at the moment. I don't think there's any results pending and they are just about to start a drilling program. Unless the rigs have fallen through. If anything it's the time for speculative buying with the expectation of good drill results coming in the weeks and months ahead. Note speculative, poor results and she'll be smashed. Actually, the good results from the GBG drilling smashed it, so who knows???

 

[YOUNG_TRADER]

Re: ROY - Royal Resources

There was also some corporate activity with a guy named Peter Schubert (rep for Schubert family) they look like they've been buying ROY for some time now, hold 5.5m at avg price of 20c I think

 

[blehgg]

Re: ROY - Royal Resources

Yea noticed that too, why did the report take so long??

down to .210 now... bit of pain since I bought in at .230.... hopefully blows over, and some stronger support

I'm a bit pessimistic that a positive announcement, in this current climate, would help it out....

 

[Sean K]

Re: ROY - Royal Resources

GBG drilling at Warrieder is due to begin this month. Not sure if they're going to drill all three target or concentrate on what seemed to be the most prospective which was Shine. They hadn't secured a drill rig as at their last relevant ann, but you'd hope they would have by now. Surely a few more 60m hits of 60% + fe will bring a positive light back onto them.

You expect them to put a few holes in the BIF around Hippo and close the GBG's major projects in Karara and Blue Hills. Looks to be the possibility of Blue Hills just extending into ROYs tenaments and adding significant tonnage. Makes me wonder whether GBG will take ROY in the future if the grades and widths continue down there.

Chart wise, long term support around 16-17 and obvious resistance at 25 ish cents holding it up.

 

[blehgg]

Re: ROY - Royal Resources

http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00821258

Half yearly accounts for ROY....

My feelings towards it are mixed, but what do I know......

The projects look promising but limited... alot of sales...

Does someone wanna interpret?

 

[Sean K]

Re: ROY - Royal Resources

I think one of the uncertainties the market may have with ROY and in particular the Warriedar JV with GBG is that the state government is restricting the development of the states BIF ranges, and this may apply to the Karara and Mungada Ranges. However, I'm not sure what the Warriedar BIF is classed as. I've sent an email to the company asking about it, and if I don't get a response will give them a call.

Having said that GBG seem to think that their BIFs will eventually get the nod.

2 Dec GBG ann:

MUNGADA HEMATITE PROJECT TAKES KEY STEP IN ENVIRONMENTAL APPROVALS PROCESS

...........Mr Kaeding (GBG PR dude) said the recent Government Strategic Review of the Banded Iron Formation Ranges had indicated that up to 30% of the total number of ranges should be reserved. The review also recognised that development planning and environmental assessment of the Karara/Mungada/Blue Hills range system was well advanced, and the creation of a national park or Class A nature reserve was inappropriate at this stage.

“Mungada is one of the 28 banded iron formation ridges identified in the Strategic Review and Gindalbie has provided extensive environmental and biodiversity information on its Mungada project area.” he said.

 

[Go Nuke]

Re: ROY - Royal Resources

Well great news today that all the clearances have been approved and that drilling can start on ROY's iron ore prospects soon. (Start of April)

I must say that obviously you would think that they should get some good hits out of the Prairie Downs projects being so close to Grialia's Silver Knight prospect, but to me it looks like a very small piece of land!

Is it even that useful if they do find anything?
Would Giralia offer to buy that land? Or go into a JV over it?

Sorry if those questions sound a bit silly, but I have no idea

Going off ROY'S map it looks like a no brainer that they will have some good hits with Iron Ridge and Homestead.

The Mindy Prospect covers more area so i hope they find something there with their drilling. On one of their maps it shows Mindy prospect encompasing a large Iron Formation.

Guess time will tell

 

[Sean K]

Re: ROY - Royal Resources

Well great news today that all the clearances have been approved and that drilling can start on ROY's iron ore prospects soon. (Start of April)

I must say that obviously you would think that they should get some good hits out of the Prairie Downs projects being so close to Grialia's Silver Knight prospect, but to me it looks like a very small piece of land!

Is it even that useful if they do find anything?
Would Giralia offer to buy that land? Or go into a JV over it?

Sorry if those questions sound a bit silly, but I have no idea

Going off ROY'S map it looks like a no brainer that they will have some good hits with Iron Ridge and Homestead. The Mindy Prospect covers more area so i hope they find something there with their drilling. On one of their maps it shows Mindy prospect encompasing a large Iron Formation.

Guess time will tell

Seems a high % chance that they'll find some iron in there GN, but as you say, smallish area compared to the GIR and BHP strike. Perhaps it extends to the north? More doubtful. I'm not sure why they're not putting a hole into the small package to the south, that looks like it's gotta have a decent fe content too. As far as development and value to ROY, you'd expect whoever starts mining that area to farm into ROYs tenament for a % of the returns and ROY goes free carried to development or something like that. Or, maybe ROY makes a takeover bid for GIR and BHP? LOL. Tried to past in the map here but can't make the file small enough.

 

[blehgg]

Re: ROY - Royal Resources

some very nice support for ROY this morning

Finally ~ back to where I started lol

is there an announcement round the corner?

 

[j4mesa]

Re: ROY - Royal Resources

Yes, I realised the same thing as well...
It is now up to 25 cents mark....
dough.....my stop profit triggerred at 21.5 price..
guess it is better not to be greedy.....

 

[Bullion]

Re: ROY - Royal Resources

Peaked at 29c!~!!! what's going on?

Odd as it came out of nowhere, not even a slight increase in vol in the last few days. Something leaked?

 

[blehgg]

Re: ROY - Royal Resources

It's not completely out of no where.

Announcements last week on drilling commencements ~ starting in April.

Seeing its the end of the month... but still yea I reckon something leaked

Top riser for today - http://markets.theage.com.au/apps/mkt/movers.ac