"ts important to note that this result was only possible because of COVID and the low oil prices that resulted in lower electricity costs for GRR along with the increased Iron ore volume and realized iron ore price."
One thing is correct in what you've posted and that is
'increased ...realized iron ore price"
Correct.
The rest is a load of waffle, Grange's huge result was from the last quarter of 2020, and that was the result of higher iron ore prices and the fact some some shipping missed the Sept deadline so was in the Dec qtr. The price of power and oil is insignificant when the iron ore pellet price is US$174/tonne (AUD$236/t).
Just wait and see what the March Qtr 2021 brings with iron ore pellet prices at US$250/tonne ( AUD$320/t)
Ann: Grange Full Yr Statutory Accts 12 Months Ended 31 Dec 2020, page-118
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Mkt cap ! $289.3M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 5 | 88281 | 25.0¢ |
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