GRR 1.19% 41.5¢ grange resources limited.

"Overall, my concerns are with the increase in C1 cash Costs -...

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    "Overall, my concerns are with the increase in C1 cash Costs - they have been growing significantly, but UG is expected to decrease it by 30%"

    Hi dsgm,

    UG will not reduce C1 costs by 30%.

    UG is stated to reduce mining costs by 30%.

    UG will have zero effect on reducing C1 costs attributable to pellet production at Port Latta.

    Mining costs represent a fraction over half of C1 costs.

    So the overall effect of UG on C1 costs would be more like a 15% reduction . . . which would equate to taking us from circa $140 down to circa $120.

 
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