GRR Qtrly report, page-38

Agree. There used to be about $30USD margin but now it seems much less. This chart shows me that the Pellet Price in AUD is not doing so well.



If they are receiving $86.72 per ton in AUD and the C1 costs are $79-, I doubt $7- per ton allows for royalties, cap exp, etc

Sustained cash position of A$139million as at 30 September 2015 means they dropped $10 million in the quarter.

Company has healthy cash position but if it drops $10 million per quarter for too long it wont be so healthy in 6 months time.

I used todays surge to exit with some good gains. Might be too early to exit but using funds elsewhere in other identified opportunities and will consider re-enter around 10 level.