GRR has 140m cash =12c net, page-9

REPORT FOR THE QUARTER ENDED 30 SEPTEMBER 2014 QUARTERLY HIGHLIGHTS
 Outstanding safety performance continues with no Lost Time Injuries recorded during the quarter. Over 1,528 days Lost Time Injury free.
 Strengthened cash position to A$140.0 million as at 30 September 2014, an increase of $30.6 million from the June 2014 quarter.
 Delivered record quarterly concentrate production.
 Maintained focus on mine redevelopment in North Pit and progressed preproduction stripping in South Deposit.
 Average weight recovery 49% for the quarter, consistent with June 2014 quarter and 56% above the recovery attained in the September 2013 quarter.
 Continued to deliver production at annualised rates of approximately 2.5 million tonnes per annum.
 Pellet production of 627,277 tonnes, an increase of approximately 2% from the June 2014 quarter and 40% above the September 2013 quarter.
 Production and cost control disciplines continue to deliver competitive unit operating costs.
 Downward pressures on iron ore prices have intensified but pellet quality premiums have improved.
 Grange’s high quality, low impurity iron ore products continue to attract a premium with average product prices of US$103.74 (A$112.21) per tonne (FOB Port Latta) for the quarter.
 Continued focus on selling cargoes to targeted customers.
 Commenced construction of the South Deposit Tailings Storage Facility which will provide sufficient tailings storage capacity for the remaining life of the mine

note ; Strengthened cash position to A$140.0 million as at 30 September 2014, an increase of $30.6 million from the June 2014 quarter.
AUD was at 94c then (Sep)..
we are at 83c today so margins maintained/cushioned as IO Pellets price fell too