Ann: Underground DFS shows value uplift and long-life mine, page-30

Its interesting that I guess some investors might view GRR being majority owned by a Chinese company in the negative, but I don’t. I would prefer they have a div policy but as they say when they can pay they will and they did. Of course it would have been better in my view to have received divs in the form of say 7c per yr over the past 4 years than the 2x 10c now back to 2c.

They don’t appear to be running it into the ground and have over the years invested in updating the fleet, rectified the environmental issues at South Dam tailings storage facility, upgraded mills and improved processing plants, now cutting costs with UG and a vision for SD.

I wished the offtake with Shagang of 1M t was more more in favour of GRR but the recent agreement is better than the last one.

Lastly, the limited free floating shares means the SP is volatile, I mean it can really rocket up quickly, plenty of institutional investors and long term positions. Imagine the SP in the future with $2.4B cash !