GRR Valuation, page-118

Nietoperz88 re "Played with some figures around for both GRR (previously posted) and MGX."

Whilst most of the amounts you've used are correct, some are way out.
The mine life for Grange is in excess of 40 years and maybe as much as 60 years. Long Plains alone is over 100 million tonnes.
At Savage River the mineral resources stand at 497.5 million tonnes @ 45.8DTR, ore reserves stand at 107.7 MT @47.2DTR

You compare GRR resources to MGX and you'll note the glaring difference  , MGX Koolan Is  18 MT, and Shine deposits 15 MT . Mine life is only 5 or 6 years.
MGX has a history of never getting top dollar for its ore, the last quarterly report show MGX getting US$106/tonne for Koolan Is ore, even though the Platts price was US$191/tonne.
Grange on the other hand received US$228.52/tonne for their iron ore pellets in the March qtr ,  this is  more than 2 x times more than MGX receives.

This last quarter Grange shipped 690,000 tonnes of pellets, MGX shipped just 400,000 tonnes.  Possibly in the future MGX will ship more, but the discounted price they receive is a concern. Grange receives a price linked to the Metal Bulletin currently and will be linked to the average Metal Bulletin + Platts after April next year. There is no discounts. Every tonne is sold at the benchmark rate. In fact Grange receives a premium on top of the premium for all sales except Shagang.
Its a bit like the buyers of new Porsche 911's in the USA at present where buyers are bidding up to US$100,000 on top of the recommended list price to secure their new Porsche, such is the great demand for these cars.