What can GRR do with its excess cash, page-6

That is a very negative assumption gcc6.
As far as my knowledge goes, the Chinese have not favoured any related party.
Their priority is to secure their pellet feed.
1) So that means a mine that is in good order and up to date.
2) A significant cash buffer to stay in business in difficult times.
The last years the mine has been upgraded significantly and good maintance has been done.
Money has been preserved and a defensive dividend payout has been waranted.

The shareprice is of no concern for them, 15 cent or 60 cent they do not care, they are not a seller nor a buyer.
Big question atm, now cash is roling in big time, what to do with the 200 mio or more.
We will find out coming 6 months, I hope they want to have some of that cash themselfs and start raising the dividend.
I will be suprised if they use the money to invest in South Down, I even hope they don't, without good communicating management it will be not followed by the investment community.