Have a look at the industry leader, RIO. they are paying about...

Have a look at the industry leader, RIO. they are paying about 58% of earnings as dividends.

If GRR had a project that required capital, then I can understand why they want to retain capital. Clearly with the latest property discussion, the size of the projects, this is not the case.

They are trying to sell Southdown, so why retain capital? Management and the board need to convey to shareholders what the strategy is going forward. The latest strategy release was very underwhelming.

I still cant get over the $7m FX loss in the last accounts. No word from management on this either. Someone needs to be held accountable. No, its not just a paper loss, its a real loss as at the 31/12/17. It could have been prevented, with risk strategies in place.

The assumptions re the CGU should have been revised from the previous year, given the changes in the IO price and the exchange rate. What happened? Same assumptions.

I think a vote on remuneration would be appropriate, to send a clear message to the board.

DYOR