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12/11/16

08:52

Post #: 20565455
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Originally posted by rocket973 ↑

I'd reckon that Grange Resources would have to be the most undervalued iron ore miner on the ASX. The current market cap is $150 million YET they have $150 million in the bank. Paid a divi of 1/2c a few weeks back. Grange GRR produces IO pellets which are currently fetching US$ 115/tonne or AUD$150 remember IO pellets currently have a 35% premium over lumps.
On current production, current exchange rates and current costs Grange will make $80 to $90 million free cash flow after tax.
Yet the current share price is 13.5 cents. I'd say forget the Indian NSL when you can buy an AUSTRALIAN producer of 2.5 million tonnes with no debt and $150 million in the bank.
They have paid more than $75 million in divis over the last few years.

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Add MGX with nearly half a billion in cash and still trading under cash
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