INFRASTRUCTURE ACCESS-PORT & RAILRoyal has MOU with Flinders Port Pty Ltd to investigate port options; And HOA with Genesee and Wyoming Australia Pty Ltd to investigate rail options.

NATIVE TITLE AGREEMENTNative Title Mining Agreement was signed with the Ngadjuri Nation Native Title Claim Group covering the Razorback Iron Project Area..

WHY MAGNETITE AND WHY NOWMagnetite currently attracts a $5/%Fe/t premium over the reference fines price.

LOW GRINDING AND POWER COSTSRazorback will produce a clean, high grade concentrate.

LOW STRIPPING RATIOpotential for stripping ratio of close on zero initially.

RAZORBACK JORC RESOURCEExploration activities within the Red Dragon Project area has defined a JORC Inferred Resource of 568.6 Million tonnes at 25.6%Fe.

HUGE TONNAGE POTENTIALAn exploration target potential of 4 – 8 Billion Tonnes at 18 – 45% Fe.