aussie dollar reaches post-float high, page-21

?Whilst we have been negotiating the appropriate pricing mechanism, we have been receiving an
interim price for our product from both of our major customers. The agreed pricing mechanism will
now be applied retrospectively to all shipments that were priced with an interim price from 1 April
2010 to the end of March 2011. The result is that Grange will receive US$70 million in cash to reflect
the differences between the interim pricing and the pricing mechanism now agreed. Future shipments
will be priced according to the mechanism agreed.?

BSL supplier Grange Resources put out this ann. in April, all pricing is indexed to USD, price of HRC is still very low, considering the input costs(coal and Io) have gone up by nearly 70%, there is no way port kembla can produce at a profit, if shutting it down would add to the bottom line then so be it,this is a business not a charity, we want to see results!