Grange's Iron ore pellets at A$427/tonne, page-132

I've been running the numbers on a conservative outlook - all numbers rounded to a worse position
20% fall in the $ per t, so $430 *80% = $344
Then an increase of 20% to costs per T, so $113 * 120% = $136
So an estimate of $208 PpT * 2.0 mt = $416,000,000
Tax etc = $125
Available = $291,000,000
plus cash already banked = say $300,000,000 (pure guess as to what cash will be at 30 June)
what are they going to do with a war chest like that ....
- acquisitions - why
- dividends - maybe
- buybacks - if the share prices rises to much then this becomes difficult to do on market buybacks due to % variance rules, off market buybacks could be interesting with a large franking account.

just my gut feel
GLTA