Get your point NewB and we should be happy that GRR are in such...

Get your point NewB and we should be happy that GRR are in such good shape - they certainly do not have the financial issues other companies have. Cashed up with no visible liabilities is something most companies aim for - or should aim for.

Overall a very good set of figures. Like all of us the drop in SP was unexpected but still is an attractive price to acquire more shares down the track.  I still think a 20% return to shareholders is a bit mean. Happy for the cash balance to be high but even doubling the dividend would not make much of a hole in the cash balance or put any pressure on the stability of the company. Having said that, NewB you are correct that the percentage return on the SP is about as good as it gets in the ASX.

A I note that they again make special reference to trying to offload 30% of the Southdown project (leaving Grange holding 40%). Hope that the current situation makes that a more attractive proposition for another party serious about bringing the project to fruition. Also, hopefully soon - next 12 months or that being way too optimistic?

general question: So it gets down to what would be the likely valuation of that 30% share in the project? Anyone like to offer an educated guestimate? In essence, apart from the sale price, the project would effectively increase the potential income stream 4 fold (4 million tonnes extra I/O produced).