Ex Fortescue Metals Chairman, Gordon Toll has spent $7.5 million...

Ex Fortescue Metals Chairman, Gordon Toll has spent $7.5 million to take a 19.03% holding in Royal. Toll took out Sing Tang,s holding and then took the $3.7million placement announced yesterday which takes the overhang off Royal's share price and gives them extra working capital.

There is a lot of activity in the northeastern iron ore region of South Australia as seen by Capricorn Resources recent upward sp move from 30 t0 42.5 yesterday as Atlas exited the register.

Would expect offshore interest now that Toll is on board and PFS and BFS studies due out.