Actually, GBG has had some bad news recently-* production pushed...

Actually, GBG has had some bad news recently-
* production pushed back until H1FY2011
* EPA knocked back Terrapod hematite deposit
* further back- GBG removed Mungada from EPA application to avert problems.

This is all bad for GBG but might be good news for ROY though in the sense that the Warriedar JV may take on much greater importance now that GBG has lost (under appeal though by GBG) Terrapod and Mungada and have only <10mt of hematite to mine now. They need new hematite deposits fast to kick off Karara and Shine, Lister and Gap are among the most advanced. How this could progress is debateable though.

It is a little bit of good news for ROY and I think the revival in the share price is connected by way of a handful of buyers realising that and getting set in the hope. As well though, the specs are all enjoying a bit of a rally.

If it was U connected, I'd be expecting a far bigger rush in the share price.