What are the expectations with the planned drilling...

What are the expectations with the planned drilling programs?

Prairie Downs - Highly likely to intersect Fe but doubtful whether any intersections will be economically viable to mine. Even if they do define a 9Mt resource, it's not really sufficient to mine. Intersections by giralia look to be relatively thin where Roy's tenement abuts and Roy would only likely get 12 to 20m intercepts. What is BHP's plan with their tenement? People are talking this up but will it realistically be a company making resource?

Mindy - Consmins and FMG have a joint venture called Mindy Mindy with a resource of 50Mt at moderate grades of CID. If anybody was ultra keen they could see where Roy's tenement plots near this JV. If it is close and I'm assuming it is from the name similarity then it could be a goer. I can recall that the JV only had tenure covering 3.5km of a larger channel system. Not currently feasible to mine at 50Mt.

Homestead - looks pretty well placed. Disappointing they are not drilling it this phase of drilling, looks to be one of the better prospects and worthy of fast tracking.

Marillana - Greenfields drilling, bit of an unknown quantity.

So it would seem that the outcome of these programs will make or break the company in the region. If they don't intercept anything significant then they don't have much to turn to except Homestead.