Interesting quarterly report from GRR (Grange Resources) today.
GRR received $US59.02 per tonne FOB at Port Latta in Tasmania. The average price for 62%FE for the March quarter was $US47.67.
It appears that GRR receive a $US12 premium per tonne for 65% FE pellets.
[Also noted that MGX sells its product FOB from Koolan Is]
GBG produces 65.8%FE slightly higher FE content than GRR. [We haven't been advised whether this % has increased].
But it appears that GBG only receives something in the order of $US4 to $US6 extra above 62%FE.
How is the selling price for Karara Mining Limited determined? It appears that GBG is being underpaid by up to $US6 per tonne.
Also why does GBG have to pay for shipping costs? Bad negotiations?
Be interesting to see March quarterly report for GBG!
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