rocket973. I sold GRR too but not as high as you and bought FEX,...

rocket973. I sold GRR too but not as high as you and bought FEX, I sold MGX prior to the refurb of Koolan, and bought back only recently in the low 40c range. The big difference of GRR vs MGX is cash costs of GRR last quarter AUD160 (zero profit) vs AUD99 in the wet season, and anticipated costs last quarter say AUD130 vs AUD65-70. With iron ore depressed around AUD160ish and both getting a premium only 6-10% for quality you can see why MGX is appealing and GRR not. MGX has some hedging at higher prices, but not sure on GRR as historically have not seen such activity (haven't been reading them as iron ore prices need to move much higher to peek my interest). At the end of the day I would rather a company make 140% profit versus 30% with a question on what to do with all the cash, than the possibility of not making any profit on lower prices. Rough back of envelope numbers from memory as this is a quick note. To be fair although analysts do DCF but most investors look to the next few quarters with a view to future value a second consideration (so many explorers have the assets but not the funds to pull it out of the ground! and the price reflects that). MGX quarterly must only be a week away, maybe 2