Danger Will Robertson!, page-31

Interesting quarterly report from GRR (Grange Resources) today.

GRR received $US59.02 per tonne FOB at Port Latta in Tasmania. The average price for 62%FE for the March quarter was $US47.67.

It appears that GRR receive a $US12 premium per tonne for 65% FE pellets.

[Also noted that MGX sells its product FOB from Koolan Is]

GBG produces 65.8%FE slightly higher FE content than GRR. [We haven't been advised whether this % has increased].

But it appears that GBG only receives something in the order of $US4 to $US6 extra above 62%FE.

How is the selling price for Karara Mining Limited determined? It appears that GBG is being underpaid by up to $US6 per tonne.

Also why does GBG have to pay for shipping costs? Bad negotiations?

Be interesting to see March quarterly report for GBG!