Pellet Price, page-951

So pellet price today is US$317.3/t.
Converting to AD$ (at 77c) = $411
Assume production costs of $111/t
So Grange pre-tax profit per tonne sold is now closer to AD$300/t?
On an 80,000 t ship that's AD$24 million.

Or, if they sold their entire production of 2.4 million tonnes; $720 million??
Minus 30% company tax = $504 million.
UP TO 20% available for distribution = (approx) $100 million = 10 billion cents
Shares on Issue = 1.157 billion
So dividends could be 8.6c/share. Let's round down to 8c/share.
Or 2 dividends per year of 4c.
An 8 cent dividend on a SP of 53c (today) gives a yield of 15% (PLUS a huge Franking Credit).

Of course the pellet price won't stay at these levels for ever, but even a year or two would be time for investors to make good money.
And the above assumes the payout ratio stays at a miserly 20% of post-tax profit.
I think I'll buy more.

Did I get it right? Any corrections appreciated. All just my own estimates so DYOR.