uranium and iron ore

The ASX announcement today by ROY of the results of a airborne magnetic and radiometric survey over their Tallering project, 50 kms north of Mullewa is worth tucking into your memory bank and at least put ROY on your watch list.

I would class this report as a quiet hint by the company that this could be a very interesting find. Normally this group would do more work before announcing this type of discovery. I would watch now to see if any Directors are buying.

The reasons could be that Tallering project it is along strike from Mt Gibson Iron current Iron Ore mine that produces about 3 million tons a year, shipping the ore out of Geraldton.

ROY’s new area is apparently soil covered and as such has not been known before.

The other interesting part of the announcement was that in the north eastern area of the tenement a radiometric image has highlighted a broad uranium anomaly within a channel area.

This new area, added to ROY’s other Iron Ore claims in the Mid West area all add up to a big chance that ROY will increase in value.

Disclosure : I hold ROY shares.