GRR Qtrly report, page-50

trippa, you need to research your information a little more carefully before posting drivel.
Why is the cash level lower this Quarter?
1) Grange has just completed an AG Mill shell replacement, this involved removing the 48 year old equipment and replacing it with new. Yes it cost a lot of money but this one will last the life of the mine.
2) Grange has also produced an extra 192,000 tons of pellet stock during the quarter. Increased from from 216,887 tonnes to 408,380 tonnes ( nearly double the stock)
Extra stock = 192,000 tonnes x AUD$87/tonne = AUD$17 million+

What you said is totally incorrect.
Yes, pellet stockpiles are always present be it 1 tonne or 500,000 tonnes, but the quantity is what is important.
Take 2014 for example
in June 2014 there were 405,633 tonnes of pellets in stock and cash balance was $109 million
In Sept 2014 there were 196,000 tonnes of pellets in stock and the cash balance had increased to $140 million
BY Dec 2014 the pellet stock dropped to 151,000 tonnes and the cash balance had increased to $151 million

Its unfortunate that there are so many foolish investors and ignorant analysts out there who can't even read a report properly.
In a low IO price environment Grange has excelled.
1) Replaced a AG mill shell with NO downtime and NO loss of income.
2) Has paid for the new AG mill shell plus labour to do the replacement out of cashflow.
3) Has added $17 million+ of pellet stock

Trippa, you can do as you wish with your GRR shares, but posting drivel now that you aren't a GRR shareholder is foolish and annoying.