From Royalco's 2012 annual report:
"Royalco has strong cash reserves, no debt and exploration initiatives with substantial
technical merit. It is expected that these exploration plays will gain greater traction in 2013."
Now that "Exploration plays" in the Philipines have been
exposed as having no value, question is from where RCO is going to get future traction.
Bass Strait seems to have been the only royalty RCO has been able to secure in years. New royalty streams are as scarce as hens' teeth.
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