High wages, page-5

"you have been so positive on MGX but in the mean time very negative on GRR"

Hi Newb

Your perception of favouritism is far from the truth. Please allow me to show you why.

If one looks through my posts they will see facts . . . both good and bad for both GRR and MGX. One will see little of my opinion as I try to just post facts.

You will see I have recently posted about MGX regarding a buy back and writing that the BoD needs to do more, a lot more.

You will see I have been very positive with the BoD of GRR regarding dividend policy, much more positive than any other poster on the GRR forum. Look back and you will see I have praised Michelle and the BoD for their generosity, often paying above the dividend policy.

One will see I have been posting very positive reports on Ben Maynard's improvements to the furnaces in lieu of hydrogen.

However, for several years (not just today) I have been very critical about GRR's addition of 250 employees during the Zhao years. 250 extra employees on high wages while productivity remained unchanged at 2.5 mtpa. Zhao was a project engineer, which is very different to a production engineer, which was my career. As a production engineer I find these numbers intolerable. Production engineers are about ever increasing efficiency and cost reduction.

As far as your comment "bullish on IO" . . .

Despite media stories of an iron ore ice age and iron ore trucks falling from the sky, the fact is China continues to import record levels of IO.

Data so far this year shows IO imports for the first 7 months of 2024 exceed that of the same period last year, remembering that last year China imported 1.18 billion tonnes which was an all time record.

Many of my posts are in response to one sided polarized opinion, which I try to counter with the facts.

Currently my sentiment on GRR in "none", which it has also recently been with MGX