Ann: GRR - Quarterly Report for 3 months ended 30 September 2019, page-75

pilatus, they will not buy a single share back.

FMG, RIO and BHP rose strongly yesterday due to the improved sentiment, and with no surprise Grange again fall to the year low.
Many peoples attribute this to shorters but failed to ask why, shorters do not short a stock without reasons.

Single large shareholder (Chinese Shagang).
Majority Chinese background board members and management (some of them previously worked with Shagang),
A single mine with very good resource, but a fluctuated production performance with high production cost, make it vulnerable to sharply low IO price.
Property investment strategy which has shocked many, and
No much investor communication (look at how many announcements/presentation in ASX, except the quarterly, HY and Full year reports).
...

The potential investors do not simply look at the PE, cash, they would more focus on the company's sound records, management's capabilities, and the clear strategies ahead for the company.

Grange has done some good works recently and their mining is improving, however there are more need to be done before wining confidence and trust,to fence-off the shorters.