MGT - Magnetite Mines

[Go Nuke]

Re: ROY - Royal Resources

Hmmm well id say it was the bit about Iron Ridge Prospect being delayed due to rig availability and the stopage of drilling at the Mindy Prspect due to rig failure that has caused the sp do get dumped.

The market rarely reacts well to bad news...of any sort.

Well thats my opinion anyway

 

[richo78]

Re: ROY - Royal Resources

All a bit quiet here at the moment. I've been looking at the chart over the last few weeks (please correct me if i'm wrong just learning re charting). Lots of resistance at 32c with plenty of sellers about 10% of total stock. Hopefully a break thru this could push the price up to next resistance at 35c or a fall down to 27.5. Hopefully i'm reading it right any help appreciated. A big purchase this morn
Trades of ROY occurring on Wednesday, 2 July 2008
Time SSN Price Quantity
11:16 138,534 30 2,000
11:16 138,533 30 666,666
11:16 138,532 30 5,792
10:10 24,842 30.5 899
10:10 24,753 30.5 9,101

 

[Bullion]

Re: ROY - Royal Resources

Big purchase, but also a big sell... Someone wanted to get out, but why at such a low price considering the level ROY has been trading at. Down to 25c....

 

[richo78]

Re: ROY - Royal Resources

Didn't see it dropping by so much down 18% especially on no ann! Hopefully can get back up a bit by close otherwise next support is 18c. Also a big buy order at 18c 200,000 shares..

 

[Go Nuke]

Re: ROY - Royal Resources

It seems ROY is Royaly up the S^*$ today lol.

Actually there was an announcement yesterday, and Ive found that in the past whenever there is an ann reguarding their Uranium..the stock gets dropped hard.

This is exactly what happened last time on the 7th of May.

The stock dropped 18.67% in 2 days!

Mind you, they have mentioned iron ore in yesterdays ann.

I dunno why. perhaps people are expecting to hear about iron ore, not uranium
Personaly I love thier Uranium prospects.

I continue to hold

 

[richo78]

Re: ROY - Royal Resources

I read the ann, didn't think it was bad though. Especially not to drop by so much. Making a bit of a late come back hopefully can get back up to near 30. A few more buying now:

19 buyers for 738,858 shares 41 sellers with 943,497 shares.

I just dont understand y it would drop by so much. Any1 with thoughts or is it just 1 of those days?

 

[Sean K]

Re: ROY - Royal Resources

ROY is sure to get a free ride on the GIR initial JORC for Western Creek.

It's probably not worth that much to them, but seems obvious that the area they hold between BHP and GIR will hold significant iron. GIR, or BHP, will farm into that section.

 

[Go Nuke]

Re: ROY - Royal Resources

More great news for holders of ROY with a new Iron ore claim in the Hammerslys.

Would have posted the link but my Adobe reader is playing up and wont open it.

Looks great to me. Hopefully this will give the sp another little nudge upwards as this adds to ROY's iron ore prospects

 

[Go Nuke]

Re: ROY - Royal Resources

Look out...here comes Royal

Things are really taking shape with drilling to commencing in the N.T and about to start with Colorado Plateau JV Uranium –( Energy Fuels JV)

If some good results are found, it would explain why some might be loading up now.
Drill results from 2 different Uranium prospects makes for...welll a number of drill results.

I continue to hold ROY becasue I liked their IO prospects, but have always been in for the Uranium.

I f I were smart I probably should have averaged down, as I bought these at about .475c

Co have $2.4Mil in cash. Might be a good time for them to do a cap raising at the same time as nearing drill results?

 

[pan]

Re: ROY - Royal Resources

Look out...here comes Royal

Things are really taking shape with drilling to commencing in the N.T and about to start with Colorado Plateau JV Uranium –( Energy Fuels JV)

If some good results are found, it would explain why some might be loading up now.
Drill results from 2 different Uranium prospects makes for...welll a number of drill results.

I continue to hold ROY becasue I liked their IO prospects, but have always been in for the Uranium.

I f I were smart I probably should have averaged down, as I bought these at about .475c

Co have $2.4Mil in cash. Might be a good time for them to do a cap raising at the same time as nearing drill results?

Yeah i got into around 40 cents as well. Iron ore is taking a while to get together hopefully they can speed things up would love to see it around 40 cents again.

 

[mlross75]

Re: ROY - Royal Resources

ROY has entered into a conditional MOU with Sin-Tang Development to form a joint venture to explore and develop the Razorback ridge project

Anyone still holding?

Any comments

 

[spectrumchaser]

Re: ROY - Royal Resources

Yes I've still got a few mlross75 they sure have zoomed up to 40cents
were trading at only 6c back in July.Rights issue appears to be a real "gift".

Source: News Bites Oct 8
Royal Resources Ltd advised a 1-for-1 pro-rata renounceable rights issue worth $10,132,828 before cost on October 8, 2009, which is expected to be fully underwritten by Paterson Securities.

The issue is of 101.3 million shares at 10c per share with 33.8 million free attaching options expired on October 31, 2011. If a new option is exercised between May 3, 2010 and May 31, 2010, the optionholder is entitled to receive a secondary option exercisable at 12c and expired on October 31, 2013.

Record date is October 21.

The company raised the funds to complete the acquisition of the Razorback project in South Australia as announced on September 16, and to undertake Razorback's geological mapping, geophysical surveying, surface sampling and resource definition drilling to achieve a JORC-compliant inferred resource in two years.

 

[jancha]

Re: ROY - Royal Resources

Yes I've still got a few mlross75 they sure have zoomed up to 40cents
were trading at only 6c back in July.Rights issue appears to be a real "gift".

Source: News Bites Oct 8
Royal Resources Ltd advised a 1-for-1 pro-rata renounceable rights issue worth $10,132,828 before cost on October 8, 2009, which is expected to be fully underwritten by Paterson Securities.

The issue is of 101.3 million shares at 10c per share with 33.8 million free attaching options expired on October 31, 2011. If a new option is exercised between May 3, 2010 and May 31, 2010, the optionholder is entitled to receive a secondary option exercisable at 12c and expired on October 31, 2013.

Record date is October 21.

The company raised the funds to complete the acquisition of the Razorback project in South Australia as announced on September 16, and to undertake Razorback's geological mapping, geophysical surveying, surface sampling and resource definition drilling to achieve a JORC-compliant inferred resource in two years.

This was the last post on Roy about 10mths ago.
Been looking at the charts on this with their buys & sells.
Interestingly they're having a steady rise over the last month from 18c to 30c as of today. Noted that larger buys are taken up as soon as the price falls down a bit.
Anyone still following this one as any idea as to why the continual rise over the last month or even from a chartists perspective would be appreciated?

 

[jonojpsg]

Re: ROY - Royal Resources

Don't know anything jancha, but have been watching ROY for a while now. IMO they are pretty lightly valued given the prospective 1B tonne resource at Razorback that they have 50% of plus the fact that they don't have to spend any money getting it to final DFS stage.

At $50m MC, if they end up with 500Mt share that's only 10c a tonne. Seems light on even for magnetite. Just my

 

[jancha]

Re: ROY - Royal Resources

Don't know anything jancha, but have been watching ROY for a while now. IMO they are pretty lightly valued given the prospective 1B tonne resource at Razorback that they have 50% of plus the fact that they don't have to spend any money getting it to final DFS stage.

At $50m MC, if they end up with 500Mt share that's only 10c a tonne. Seems light on even for magnetite. Just my

Jonopsg Might be enlightened a bit more with the current trading halt as to why the rise over the past month. Hoping for something positive.

 

[jancha]

Re: ROY - Royal Resources

Jonopsg Might be enlightened a bit more with the current trading halt as to why the rise over the past month. Hoping for something positive.

Guess the announcement put a stop to the rise over the last month.
Down 20% on the announcement.

 

[Ken]

Re: ROY - Royal Resources

thought id reopen the ROY discussion.

any thoughts on where ROY is at?

appears that the market cap is relatively cheap compared to peers.

 

[matty77]

Re: ROY - Royal Resources

saw a presentation on this stock a few weeks ago, have made a note to add to watch list, also need to review my notes over the coming weeks. I did note it as worth looking at.

 

[jonojpsg]

Re: ROY - Royal Resources

After selling GIR stake they should have around $10m in cash, which is definitely handy to keep them going. If they can drill out more of the range and up their inferred into the 500+MT area the SP should see a bit of appreciation.

Was a pity the JV didn't work out though, as funding costs to BFS would have been a big bonus even for 50% of the project.

 

[springhill]

Re: ROY - Royal Resources

MC - $43m
SP - 13c
Shares - 335m
Options - 35m
Cash - $9.2m

Iron Ore
• 677Mt at 23.6% Fe Inferred Resources announced for Ironback Hill
• Razorback Ridge Deposit increased to 845.5 Million tonnes at 23.0% Fe, including an Indicated resource of 437.1 Million tonnes at 26.0% and Inferred Resources of 408.5 Million tonnes at 19.8% Fe
• Total resources within the Razorback Iron Project now 1.523 Billion tonnes at 23.3% Fe with the above breakdown
• Approximately 4,500m of drilling was completed at the Iron Peak Prospect, located east of Razorback Ridge
• Further resource upgrades anticipated for Ironback Hill and Razorback Ridge areas during early next quarter
• Razorback Iron Project legal issues with Hillam settled out of court in favour of Royal
• Exploration drilling completed on the Dragon’s Head Prospect, an area of thickened outcropping to subcropping magnetite rich rocks
• Remaining exploration tenements in the Pilbara sold to FMG for a consideration of $350,000 cash plus trailing royalties

WESTERN AUSTRALIA GOLD
• The sale of Royal’s residual 40% interest in the Warriedar Gold JV to Minjar Gold Pty Ltd has been completed for a consideration of $1 Million.

Fields Find: Royal (100%)
The bif magnetite targets within the project area are on hold until the development of the Oakajee Port is resolved.
A review of historic data identified four gold or base metals prospects that are untested or incompletely tested and warrant further work. Ground geophysical (EM) surveys were completed in two areas. At the historical Warriedar-Cu Prospect a conductor was identified that will be focus of a drilling campaign. Government drilling approval has been obtained for two areas and heritage surveys are scheduled for August.
Three new small prospecting licences (P59/1968-70) were granted during the quarter. They cover gaps around the Baron Rothschild gold mineralisation.

URANIUM AUSTRALIA
Waterhouse West EL24563, George Project EL24550 (George), and EL27354 (Amangal): Royal manages (60%)
Government approvals have been obtained and field programs, including the followup of the mineralisation intersected at the Bowerbird Prospect in 2011 (BBRC002, up to 1870 ppm U3O8) are planned for the next quarter. At Waterhouse West and Amangal the drilling programs commenced in 2011 are planned to be completed.

Ngalia EL24571: Royal manages (60%)
A soil survey (ionic leach) was completed during the quarter which returned up to 182 ppb U over an average of 41 ppb U. Interpretation and follow up of these results, if required, will be undertaken in the next quarter. The survey was targeting the Waite Thrust below alluvium.

Yatjalu EL27633, Gum Creek EL27634, Yatjalu West EL28700 & Djambdimba EL28701: Royal (100%)
A soil survey (ionic leach) was completed during the quarter over the Yatjalu and Yatjalu West Licences. No significant U anomalies were detected (82 ppb U max.). Interpretation and follow up of these results, if required, will be undertaken during the next quarter.
Two new tenements, Naburula East (EL28986 - 241 km²) and Ngalia East (EL29067 – 38 km²) were granted during the quarter. The Naburula East area straddles the Ngalia Basin-Arunta Provence boundary. The Ngalia East tenement abuts the Ngalia tenement and covers a small interpreted buried Tertiary palaeochannel, similar to Yatjalu.

CORPORATE
On 16th April Royal announced the appointment of Mr Tony Heslop to the position of Company Secretary. Mr Frank DeMarte steps down from the position but remains a Non-Executive Director of the Company. Mr Heslop has an extensive background in accounting and treasury, having held positions with Hancock Prospecting Ltd., Woodside Energy Ltd., WAMMCO International, and PricewaterhouseCoopers.