io royalties, page-22

TCF the majority of low cap companies on the asx are either explorers or have medium to long term production potential. There sp / value is based on this. So if there is a resource there then GDN sp's will more and more reflect the royalty value as it comes to fruition. $2 a tonne is pretty good and means that the GDN share price is highly leveraged to how much Iron Ore can be proved up.