Morning traders 24 / 1, page-2

GRR quarterly. BANG!!!!

REPORT FOR THE QUARTER ENDED 31 December 2017

HIGHLIGHTS

• Mining movements lift in fourth quarter with successful remediation, and development of North Pit west wall.
  
  
• High production rates achieved for Concentrate and Pellet deliver a strong result.
  
  
• Strong demand for pellets continues. Price remains stable with average price received for the quarter of US$105.51/t (A$137.08/t) (FOB Port Latta) compared with US$105.77/t (A$133.11/t) for September 2017 quarter.
  
  
• Decrease in unit cash operating cost, with costs for the quarter of A$76.89/t compared with A$85.04/t for September 2017 quarter, underpinned by increased concentrate production.
  
  
• Improved cash position of A$167.99 million and trade receivables of A$25.17 million compared to A$120.34 million cash position and A$34.51 million trade receivables as at 30 September 2017.
  
  
• Increase in Pellet production with 674kt compared with 550kt in the September 2017 quarter.
  
  
• Significant increase in sales of 653kt Pellets sold, exceeding previous quarter of 359kt in the September 2017 quarter.