People KNOW it has been oversold from 30c back in early January.
Is currently 40% BELOW the 100 day moving average of 33.5c and 15% below the 20 day moving average.
Given the cash they have, the projects on the books:
* Iron ore in two HOT locations Pilbara & Mid West
* and Uranium in the US close to existing infrastructure, and where historical mining has take place.
then Royal is a pretty conservative bet at the 20-25c level.
I mean, they floated at 20c less than two years ago and that was BEFORE they had the 4 U tenements OR the Pilbara tenements (won over Gina Reinhart!)
As Crabb recently said " we are in advanced negotiations with landowners WHO HAVE SUBSTANTIVE URANIUM RESOURCES ON THEIR PROPERTIES . This could not be said for MANY Australian exploration companies".
MFE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held