"Wrong forum for this discussion."
True, but it was you who brought it up originally.
I'm just setting the record straight as I don't care what discussion is done about any stock, however it should stay factual.
Shagang has never received a discount, the price they pay is per the sales agreement as announced to the market on the 19th November 2012 which uses the "Metal Bulletin Iron Ore Pellet reference price."
Any other discussion is nonsense and is totally incorrect.
Whilst I'll agree that the property venture was foolish, they've admitted that and won't do it again.
However dividend returns GRR has is an even higher rate of return than FMG even though at this stage they only pay out up to 25% of free cash flow, but then again they have no debt and $350 million in the bank.
Whilst Grange will never be in the FMG league, the fact is currently GRR is making more profit per tonne on iron ore than any other miner in Australia.
Iron ore price, page-31886
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Last
$22.59 |
Change
0.110(0.49%) |
Mkt cap ! $69.55B | |||
| Open | High | Low | Value | Volume |
| $22.37 | $22.60 | $22.21 | $90.44M | 4.024M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2064 | $22.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.59 | 197 | 1 |
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