Ann: GRR Quarterly Report - 3 Months Ended 30 June 2014, page-12

JPGM, good analysis. I agree with most of your post. Unfortunately Autoslime doesn't have a clue, he'd better get a job bricklaying.
What is most interesting is the RGL sell down. A large volume of the selling was RGL now down to 3.98%.
RGL have sold 16 million shares.
The calculation for working out profit for the quarter is as follows.
(1)Settling the pre-merger deferred consideration US$21 million (AUD$22.4million mid April 2014, the announcement was made on the 17th April, the payment was made prior to this date )
(2) Dividend was paid during the quarter to shareholders at 2cents/share AUD$23,419,957
Cash in bank end of last quarter was AUD$146.1 million, current cash in bank AUD$109.4 million
Profit made for the quarter = AUD$8,841,957

The cost of pre-production stripping at South Deposit was also included in this.
The concentrate stockpile has doubled from 40,998 to 81,038 tonnes.
The pellet stockpile has also increased by approx 5000 tons, and at current prices US$110.77 (A$118.33) GRR now has a full quarter of pellet sales in stock (405,633 tonnes equal to AUD$48 million even at the low current price)
The extra 5000 tonnes of pellets that were added as stock have been fully paid for in the quarter and the value is worth AUD$600,000.
During the quarter GRR "successfully negotiated a crystallisation of the pre-merger deferred consideration obligation for an immediate cash payment of US$21 million" , " delivering an estimated non-cash gain of approximately A$20 million. "
Therefore, I say GRR did a commendable job during the quarter considering analysts insist that GRR was losing money.

Aren't you pleased that you ALL topped up at 16 cents?? I am.