Stan, your sentiment is "buy". Yet you go out of your way to...

Stan, your sentiment is "buy". Yet you go out of your way to down ramp GRR persistently and illogically!

Your latest post starts by suggesting the sp is being propped up. I suppose it is , but only if you count the buying from all the savvy investors reading their reports and recognising one of the biggest and most obvious bargains going on the ASX atm. The current sp represents a p/e of less than 3. And if you base your calculation on enterprise value (market cap less cash) then this figure drops to close to 1. Extrapolating forward, if the iron ore price remains anywhere near current levels these already amazing figures will improve even further.

Your preoccupation with dividends is both irrelevant and misleading. The Company's current dividend is 1c per year (not .5c) representing a fair return of around 4 1/2% plus franking credits. Obviously the Company will be under pressure to significantly improve this payout next period and should have no problem doing so. Having said this, one does not normally concentrate on dividends when investing in mining companies. Sustainable income and future growth opportunities are what counts.

You apparently have a concern with the largest shareholder. Remember the only way they can (legally) get their hands on the Company's large cash balance is by declaring a large dividend, which would benefit all shareholders equally.

Stan. I understand you have been in GRR for a long time and have got used to the frustration of waiting for the market to fairly value the Company. All the signs are there for that to start happening soon. Look forwards, not backwards, and hang in. You will get your due reward.