Crazy prices, they are making around 25-26 Mio AUD profit per ship (81333 dwt).
And to put that huge margin you mentioned into context:
You could say that the Pellet premium (USD 69/t, AUD 92/t) almost covers GRR's entire OPEX on production (around AUD 100/t). Therefore the entire 65% FE fine price is the operating profit. Incredible margin and with the cash war chest increasing, GRR's balance sheet is gonna blow the market away come August.
Cheers
Grange's Iron ore pellets at A$427/tonne, page-3
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