The increase yesterday in the SP did not surprise me. I have...

The increase yesterday in the SP did not surprise me. I have been strongly recommending ROY as a buy for the past couple of weeks to friends and relatives.

The general investors appeared to have completely missed the importance of the Razor Back Magnetite project in Sth Aust.

At a 26c close yesterday, this stock in my opinion will continue to show gains.

For the investors who follow the charts ROY is now into a positive buy pattern having broken through the moving average, the WMA indicators and the trend line. All these signs of a support trigger.

All in all with ROY Directors taking an aggressive fast tracking of Razor Back this stock will be a welcome addition to anyone portfolio or Super Fund.

The million dollar question being asked is just how long the current board will be able to maintain control. To appreciate these concerns you only need to read the “AGM Presentation” report posted by ROY on their ASX announcements on the 27/11/09. After analysing this report I formed the view that this stock had some wings.

With an ambitious estimate that the Razor Back and adjoining area could contain upwards of 1 billion tones. (Not my estimate but statements made by the company) you may form the same opinion as others that this project may be in the sites of bigger fish.

More work on resource estimates will be needed, but with a projected fast track estimate of between 12 and 18 mths to drill out the initial 250 million tonnes we should be in for updates on a regular basis.

I will be holding my stock it could be a gem.