New iron ore price contracts up 80% and chinese local steel prices up 25% last month in response.
Reckon this baby is grossly undervalued on its likely fair value NPV for the GBG JV Shine DSO assets alone and there has to be some move by GBG one way or another on the minorities or ROY itself.
But the BIG Q is what rerate for the SA magnetite project now as well?
I originally specced ROY as a likley URANIUM winner ... check out stablemate THX's ongoing successes in proximity ... but now holding onto original core for the iron ore proxy.
Technically, 23 was resistance and is now support, but the REAL fun and games begin when it clears thru the adjusted high zone 33-35 + ... cos first prime target beyond is abt double f/d basis... and probably conservatively justified on fundamentals.
VEY smart Olympians at the helm of this baby now. Oppies were intelligently structured and their conversion looks guaranteed.
Optimistically sticking with it cos too many possibilities now from any of a number of directions at any time.
IMBOOC
MFE Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
