Hi Trippa,
Everything you write is 100% correct except for one element.
Yes the anticipated $100m is great, but it came from iron pellet production. That is where Grange has a fantastic competitive advantage.
That said, I strongly believe the property JV is a fantasy trip down the yellow brick drain. I would rather Grange invest the $8million in developing the Southdown Project in WA and further capitalise on our iron ore pellet production capability. This will generate tens of $millions in earnings and dividends.
Cheers.......Daics
GRR ABC NEWS, page-6
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