Yeah I don't think its going to be $1. Grange wants to develop this project and also magnetite has promise as feedstock for green steel. Grange will be able to fund the 30% purchase out of their cash reserves, is that part of the reason why the last dividend was so disappointing?
I'm happy with this news, it makes sense, provided the price isn't going to be too high.
Ann: Grange Re-acquires Interest in Southdown Magnetite Project, page-13
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