good blackwater drill results

Good results announced today by OGC at Blackwater in NZ.

Resource has been increased by 250k oz bringing the total to 600k oz @ 21g/t.

PFS commenced and due for completion by Q4 2013.

This is looking more likely as going ahead, especially with the increase in oz. Thus more likely that RCO will be collecting a nice fat royalty payment again from OGC.

I note major shareholder selling down - perhaps due to the diversification of royalty streams away from precious metals with the Bass Strait oil and gas royalty deal ??

Cheers
John