GRR Qtrly report, page-55

Rocket & Trippa,

I understand Trippa's worries about C1 being 78 AUD per ton and I disagree with Rocket's reference to the increase in stockpiles as C1 has nothing to do with it. Pellets produced were at a record along with concentrate. C1 is the total of mining and production costs over the tons of pellets produced. Inventory movements are excluded.
The problem with your analysis Trippa is that this quarter was unusual as we had down time of 50 days or so to replace the mill. The costs for July must have been exorbitantly high. Lets not forget the company's prior announcement that cash costs for August were below 70 AUD probably 68 AUD. So we will have to wait until year end to find out the normalized c1.
And btw cash stayed roughly flat but no mention was given to any increase in debt/finance leases, these were 14 million last quarter.
All in all a very good report, the takeaway is that the company is about to lower costs significantly with 2 new mills and most infrastructure completed after Tailings is done. So expect huge cash flow accumulating on Balance Sheet as capex will be minimum.

Good luck to all!