Ann: Grange Resources Limited Appendix 4E - 31 December 2021, page-40

I agree miningnut the fact that this 10 cent dividend was not listed as a special dividend is very poignant, every other higher dividend paid has been listed as a special dividend as a 1 off and not to be excepted by shareholders as the normal. The board must have industry confidence that the ore price will be elevated for a longer period of time to give out such high dividends.
I posted the other day the 3 mining stages I feel that management are planning on.
Stage 1 extending open pit doesn’t need additional capital to develop.
Stage 2 underground development when open pit resource nears completion requires circa $120 million to develop and should give around a 30% reduction of C1 costs.
Stage 3 Southdown and I am thinking this will be up to10 years down the track before we get to that up and running.

Shagang want guaranteed high quality resource well into the future, I don’t think they are going anywhere., the t

I to contacted management after September 21’s 2 cent dividend was announced, they, as in several of them that I contacted all sang from the same hymn sheet, “the board was assessing all future mine development options, and if the decision was made that the excess capital was not needed to roll out the plan at this stage, then the board will pay out larger dividends”.

I agree the company is very frustrating with investor relations and I and other shareholders have conveyed this to management, they keep saying this is something they will try and work on, but their approach is to only report on actual outcomes. I think I would rather have a company that actually delivers a fantastic return than one that is constantly producing spin talking up what they want to do and not really delivering.

The AGM should shed some light on the mine plan I hope.

My family is very fortunate that I invested in this gem about 12 years ago, yes there has been ups and downs but it has been life changing for all of us.

Good luck to all holders.