GRANGE RESOURCES (ASX:GRR)
The high-grade Tasmanian iron ore miner will pay a special 10c per share dividend on 29 December after a strong performance in 2021.
This will result in 14c being paid in dividends during 2021.
Not surprising, given GRR held cash and liquid investments of $554.6m at the end of the September quarter, despite a plunging iron ore price.
That’s because it supplies pellets grading around 65% which attract a substantial price premium to the benchmark.
In the June quarter, for example, Grange sold ~653,000t of pellets at an average realised price of US$287.15/t ($373.72/t) — roughly US$130/t higher than the prices generated by BHP and Rio Tinto.
With operating costs down 20% to $90.16/t, Grange made a headline margin of $283.56/t or US$207.63/t.
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GRANGE RESOURCES (ASX:GRR) The high-grade Tasmanian iron ore...
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