I wouldn't bother to get any opinion from Idle Wanderer as he doesn't have a clue.
What he suggests is complete rubbish and in no way does Grange pre- sell iron ore pellets at a fixed price, nor is the product hedged in any way.
The iron ore pellet price paid to Grange is calculated on the daily Platts iron ore IODEX index plus the pellet premium. Grange is also paid another premium on top of the premium.
Grange Resources produces the best quality, highest grade and most profitable iron ore in Australia.
You should as a shareholder read the past announcements and do the necessary research. All this information has been released as announcements in the past.
Idle Wanderer should read a few of the past announcements and then he'd be in a position to comment correctly, it might also convince him to bite the bullet and buy Grange shares.
The average pellet price for the Q1 was US$245/tonne , this is US$40/tonne higher than Q4 2020.
So far for Q2 its US$267.64/tonne more than US$60/tonne higher than Q4 2020.
Pellet Price, page-627
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