Grange's Iron ore pellets at A$427/tonne, page-70

Yes or maybe more but need abolish the dividend, or keep dividend at 2c so can develop Southdown project from internal cashflow... Rise in NTA will give much higher return for shareholders than throwing out cash in dividends... This is the first time in many many years the company has got opportunity to build some significant cash to look into future growth, before they haven't had such opportunity & as cash balance remained 150-200mil... I think the management is doing a great job, Im sure management are looking into growth ideas than to throw out cash paying hefty dividends to mum & dad investors..