Agreed. Grange is very vulnerable if the iron ore price cycle repeats and iron ore drops back below USD50 per tonne. In that scenario Grange will be in a world of pain. And its a realistic scenario its only 3 or 4 years ago we were there. Minong cycles have ups and downs and i am concerned Grange is exposed to the down. They need to really focus on their cost of production to reduce it to give themselves headroom in the next downturn.
Will there ba a dividend, page-56
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