Ann: GRR - Quarterly Report for 3 months ended 31 December 2017, page-11

Significant market re-rate should be delivered once GRR delivers 4 consecutive quarter mining, production and shipments. This solid 4th quarter delivered across key areas (sales/shipments, pellet production and mining) with improving trends and two consecutive positive results. I estimate the profit (before abnormals) for 6 months ended 31 Dec 2017 will be ballpark A$60m. I am sticking with my earlier dividend estimate of $0.02 (albeit split as $0.01 final 2017 and a special of $0.01 making $0.02 declared in late Feb 2018 and payable say 3 weeks later - end of March 2018.
Quarterly report stated "Concentrate and Pellet plants ran at record levels throughout Q4 achieving record daily and weekly production rates". Note that all 2018 production is contracted and Grange is confident that strong demand for pellets continue.