GRR chart, page-12

In terms of GRR Management plans for 2019 - Joca posted ("Iron Ore Price") on HC thread dated 9 Mar-19 the hyperlink to a comprehensive press article from Amy Blom dated 4 Feb 2019. In this article, Ben Maynard (GM Operations) provided great insights & comprehensive comments across the business and some of the activities plans and actions underway. Recommended read IMO - Maynard stated some priorities in 2019 for GRR included (i) increased production; (ii) extend reserves Centre pit , Long Plains pits & overall Tas mine lives; (iii) expansion projects; and (iv) research and development - safety.

Barron's financial analysis of the last two six month results had GRR capital expenditure spend for the period to 30 June 2018 as $90.2 million and $66.4 million for the 6 month period 31 December 2018. Free Cash Flow for these same 6 month periods were $84.1m and $83.3 million. With seven pellet shipments this quarter (lastest vessel is heading to Port Latta and currently off the NSW coast) expect Mining Revenues to be north of $90m for quarter 1. Hopeful of a return to *-10 shipoments per quarter in the near term.