come on..., page-149

Hi Rocket,

sorry if I got the numbers out a bit - I used whatever figures Google finance currently has available. The point remains valid though, you can't just compare based on share price.

Also as I have pointed out once before, Grange and TTY are very different operations. Sure they are both Iron ore, but TTY has direct shipping ore (Haematite), whilst Grange has magnetite which is lower grade and requires benefaction ($$$) to make it ready for sale. Magnetite can also be high in impurities which need to be removed (not sure what Grange's impurity profile is like). There are heaps of companies out there with massive amounts of low grade Magnetite... and therefore not necessarily as attractive as the direct shipping ore that TTY is digging up.

Finally, I see that Grange has operations in Tassie and the south of WA. These are much further from China than TTY's mine. You can compare the two if you like, but they are actually very different companies.

StatsMan