Iron ore price, page-11

Was checking out Granges quarterly during  March 2012 specifically when the AUD was more than the USD what stood out we had more cash at bank back then also they paid a 3c dividend for the half.  I would almost have to say we are in better profitable position now than back when considering cash operating costs if we take into consideration the exchange rate also.   Our SP back then was closer to 70c which is it where it should be today.

"HIGHLIGHTS Highlights for the March 2012 Quarter include: Continued excellent safety performance at Savage River and Southdown. Twenty months of no Lost Time Incidents (LTI) achieved. Record monthly pellet sales achieved in January 2012. Improved cash, term deposits and trade receivables position of A$274.2 million and no net debt at the end of the quarter. Pellet prices remained strong, averaging US$172.57 per tonne FOB Port Latta. C1 cash operating costs of A$111.09 per tonne of pellets produced supporting strong cash margins. Final three cent dividend declared and payable in April 2012, in addition to the inaugural two cent dividend paid in October 2011. Southdown mineral resources increased by 75 per cent to 1.22 billion tonnes. Southdown project DFS substantially completed."

https://hotcopper.com.au/threads/ann-grange-quarterly-report-3-months-ended-31.1713483/#.XIH7YygzaUk