Grange is a high cost producer. That makes it high risk in a downturn. And iron ore is highly cyclical it has big ups and savage downs. Grange is a good company with outstanding management but its a high risk play.
The management understands this thats why it keeps a healthy net cash position. But history is littered with high cost producers failing in downturns. Think Arrium and Atlas. Atlas had a rock solid balance sheet but it didnt make it.
I love Grange but its balance sheet is not a honey pot its protection against the next downturn. The Grange management understands this which is why it keeps it and doesnt pay down its cash via dividends.
I will be buying more Grange for sure but am waiting we should get a cheaper price.
Grange is a high cost producer. That makes it high risk in a...
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Last
41.5¢ |
Change
0.010(2.47%) |
Mkt cap ! $480.2M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 41.5¢ | 40.3¢ | $281.6K | 691.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 39024 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.5¢ | 49997 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
41.3¢ |
Change
0.010 ( 2.18 %) |
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| Open | High | Low | Volume | ||
| 40.5¢ | 41.3¢ | 40.3¢ | 291338 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| GRR (ASX) Chart |