Unfortunately GBG doesn't produce Iron ore pellets as the pellet...

Unfortunately GBG doesn't produce Iron ore pellets as the pellet premium is rather high at present ie 65% pellets currently at US$125/tonne. Whereas 66% iron ore concentrate is only US$74.86/tonne. From the Metal Bulletin.
Years ago I bought GBG and todays the first time that I've topped up to average my price down, as its most likely well undervalued currently. When I originally purchased GBG, I also bought some GRR, however at the time GBG was higher in price than GRR. Not that GRR has fared much better, both are undervalued.