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Royal confident ownership of Razorback project ‘unassailable’

18th January 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) - Australian junior Royal Resources on Friday countered rumours on the veracity of its ownership of the Razorback iron-ore project, in South Australia.

The developer said in a statement to shareholders that it was confident the ownership of the Razorback project was unassailable.

“Royal is completely satisfied that its due diligence process, backed by the legal advice of a world-class legal firm, ensured our acquisition of Razorback was 100% effective,” said MD Marcus Flis.

“It is an indictment on social media websites that unsubstantial rumours and opinions, aired by anonymous individuals, can gain currency in the face of evidence to the contrary,” he added.

The Razorback Ridge project currently has a Joint Ore Reserves Committee-compliant resource of 1.8-billion tons, at 21% iron. The project has been divided into two subprojects, namely the Red Dragon and the Southern Pualco projects.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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