MGT - Magnetite Mines

[agro]

Re: ROY - Royal Resources

as a holder of GBG naturally i want to get my hands on its partner ROY..

has done outstanding today and one can speculate anything from possible merger with GBG (or even BHP) to the the chinese buying up

 

[Sean K]

Re: ROY - Royal Resources

I am very happy with the rise, but on no news it could just as easily pull back again. Already come off quite a bit for whatever reason. I suspect it's due to the imminent drilling program, but they haven't put a hole in the ground yet I assume so it can't be because of insider results knowledge. As far as takeovers and such, IMO a long way before that's on the cards. They need some really good drill results for that to be a factor IMO. Whatever the case, perhaps 17 ish was a bottom.

 

[Go Nuke]

Re: ROY - Royal Resources

I reckon Kennas with strong resistance at 30c and the 200 MA at the same level its going to take a bit more than an announcement to say they have started drilling to push the share price too much higher.

I could easily be wrong too

An ann like that doesn't add any value to a stock now does it.

But as Agro said, GBG has a had a couple of good days too...so who knows.

(Well someone probably does...but not us)

Soldier on ROY!! :sword:

 

[Sean K]

Re: ROY - Royal Resources

I reckon Kennas with strong resistance at 30c and the 200 MA at the same level its going to take a bit more than an announcement to say they have started drilling to push the share price too much higher.

While there will be plenty at 30, looks like 25 is firming up as a wall.

I assume they will ann the commencement of the drilling program due to start in April, which may provide some interest, but a little while before any hard results are in. Patience game at the moment I think.

New CEO sounds like a good catch.

APPOINTMENT OF CHIEF EXECUTIVE OFFICER

The Directors of Royal Resources Limited (Royal) are pleased to announce the appointment of Mr Marcus Flis to the position of Chief Executive Officer (CEO) of the Company, effective from 31 March 2008.

Mr Flis holds degrees in both geology and geophysics and is highly qualified in the resources industry, having over 27 years experience covering all aspects of exploration, resource definition and project assessment. He has recently held the position of Project Director with Rio Tinto Iron Ore’s business development group. Previously Mr Flis held positions as exploration manager with Hamersley Iron and Iron Ore Company of Canada and Manager-Geophysics at Newcrest Mining Ltd. Mr Flis comes with extensive experience as an explorationist for a wide range of mineral commodities in varied mineral terrains and geographies.

Royal’s Chairman Philip Crabb said that “Marcus’s appointment to the position of CEO is an important development for the Company. Marcus’s experience in the exploration for bedded, detrital and pisolitic Direct Shipping Ores will be invaluable in the assessment and development of Royal’s Pilbara and Midwest
iron ore projects.”

Sounds like he's kicked a rock or two.

 

[blues]

Re: ROY - Royal Resources

I emailed the company Friday about the drilling as they said it was to begin early April. Their response was "I can confirm a drill program in the Pilbara for Royal Resources has recently commenced in line with Royal's proposed drilling schedule mentioned in the ASX Release, Pilbara Iron Ore Exploration Progress, announced on the 18 March 2008."

Interestingly this hasnt been released to the market. You would have thought in the current environment news like this would be released.

Cheers.

 

[YOUNG_TRADER]

Re: ROY - Royal Resources

I emailed the company Friday about the drilling as they said it was to begin early April. Their response was "I can confirm a drill program in the Pilbara for Royal Resources has recently commenced in line with Royal's proposed drilling schedule mentioned in the ASX Release, Pilbara Iron Ore Exploration Progress, announced on the 18 March 2008."

Interestingly this hasnt been released to the market. You would have thought in the current environment news like this would be released.

Cheers.

From memory they didn't really tell us whne MidWest GBG drilling began, nor did they keep us informed

Anyway if they hit paydirt thats all I care about

 

[Go Nuke]

Re: ROY - Royal Resources

Wow nice finish by ROY today.

Now it would be nice to see if it can saty above 25c.

As stated earlier, drilling about to start in May should be the start of some good forthcoming news.

It's pretty much a given that the Iron Ridge Prospect is going to have some great hits!
But I would have thought that might be factored into the sp already.

Some great prospects coming up for ROY

 

[blehgg]

Re: ROY - Royal Resources

Slow and steady climbs by ROY - with some nice reports speculated in May

nice early action today "up 5%" ~ So glad I held on and topped up on the lows

 

[Sean K]

Re: ROY - Royal Resources

While there will be plenty at 30, looks like 25 is firming up as a wall.

Three month ascending triangle with the top at 25 may be about to be broken. Some may count Fridays close as a breakthrough, but IMO needs a follow through day due to the resistance build up here. Looks preety positive though. I ´m certainly looking at a few more on a break through this resistance. As said there will be more resistance at 30, and a target from a break from that ascending triangle could be around 33. Problem is the ascending triangle ´s not part of an overall upward move.

I wonder if the company has a PR officer? Why not announce the precise drilling program and when it had started with likely finish dates etc? Disappointing in that regard for me.

 

[YOUNG_TRADER]

Re: ROY - Royal Resources

I think alot of it is due to 2 factors

1. The Iron Ore secotr is heating up again and this is putting the spot light on Fe plays, also GBG was amazing last week along with others and considering ROY is GBG's JV partner thats probably drawing attn

2. Drill results are expected soon

 

[Sean K]

Re: ROY - Royal Resources

I see there`s an ann out by GBG on the JV.

Unfortunately haven`t got time to really look at the numbers and what it means to ROY, but it must be the reason for the recent recovery from the poo house. If I had have been around a computer I probably would have topped up on this break, but I`m on the road.

Damn it!!! This trip is costing me a fortune in possibilities!!!

 

[blehgg]

Re: ROY - Royal Resources

Any ideas on how the drill results will effect the pricing of ROY?

Up a very nice 13.56% today ~ Is the spike of SP mostly because of GBG??

mmmm tempted to release.... but greedy to hold till drill results ~

 

[Sean K]

Re: ROY - Royal Resources

Any ideas on how the drill results will effect the pricing of ROY?

Up a very nice 13.56% today ~ Is the spike of SP mostly because of GBG??

mmmm tempted to release.... but greedy to hold till drill results ~

Yes, was because of the GBG ann. Have a decent DSO target there which ROY gets a nice slice of. Haven`t done any numbers yet, too busy drinking cuba libres.

In mid term uptrend now with some higher lows and highs happening since the 17 bottom. Would have liked 30 to hold as a base, but not to be. Would be nice to get some drilling updates soon, but I`m not confident that management know how to use a computer.

 

[Sean K]

Re: ROY - Royal Resources

In mid term uptrend now with some higher lows and highs happening since the 17 bottom. Would have liked 30 to hold as a base, but not to be.

Still looks to be making higher lows and highs, mid term. 30 forming up as resistance now, but a break through there would be very positive IMO. Seems to be a bit of a trend happening in the chart over the past 3 months.

Market seems pretty bullish at the moment though. Seems spec money flowing back in. Not sure how much longer that can last....

 

[Sean K]

Re: ROY - Royal Resources

Very nice couple of days for ROY and all else been equal, you'd expect this little break to continue up. 30 was old resistance so breaking that was very positive, next stop 35 in all probability.

 

[TheAbyss]

Re: ROY - Royal Resources

Roy still looking to gain more ground. Increased volume today and up 7.5%.

Lot of news coming for Roy and trusting that you can carry my weight here Kennas.

 

[agro]

Re: ROY - Royal Resources

anyone know the reason for the recent surge in ROY's price..

would you attribute it to the solid performance of respected IO's?

even on a down day, buying seems to be well supported and the chart is pointed upwards

 

[Sean K]

Re: ROY - Royal Resources

Very nice couple of days for ROY and all else been equal, you'd expect this little break to continue up. 30 was old resistance so breaking that was very positive, next stop 35 in all probability.

Hmm, well, maybe about 40 next stop. And with the crystal ball shined up, I see potential for this move turning into yet another pole and pennant with a break up target of 48 ish. Early call but has some potential to play out.

 

[TheAbyss]

Re: ROY - Royal Resources

What the? ROY announce a 20 mt DSO which they get 40% of and they go down 16%?

I am backing my judgement and adding.

Excerpt below.

“The Shine Prospect has the capability of producing an outstanding resource in excess of 20 million tonnes of high grade DSO. When taken in the context of neighbouring properties, both ROY’s under the Joint Venture and GBG’s, the area has the potential of creating a substantial and profitable DSO iron ore business. It is anticipated that following the Phase 2 drilling a comprehensive programme of diamond drilling, metallurgical testing, and geotechnical valuation will be undertaken in late 2008/early 2009 to assess the business opportunity” said Mr Flis.

 

[Max_ob]

Re: ROY - Royal Resources

yep . . .i've been watching for ages on this one and was kicking myself when it spiked. . . .

so i got in a tiny parcel at .335 which i thought would be the bottom and get a bounce. . . and it is bouncing a little but who knows what will happen by close. . ..