GRR 0.00% 24.5¢ grange resources limited.

When I was close to it I always used A$16 for freight ... so...

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    When I was close to it I always used A$16 for freight ... so close enough. My rough numbers leverage your data @miningnut, if I were guessing for the quarter:
    625kT sold
    Revenue $90.09m
    Cash costs @A$80/t
    royalties A$7.2m
    admin A$1.0m
    operating cash flow A$31.89m
    capitalised mining; STDSF,development A$6.0m
    notional FCF -> 25.89M
    less dividends paid A$11m

    At December they had cash & receivables -> A$183m ... inventory at year end looked firm and given sales activity, difficult to imagine too much cash sunk in additional inventory investment. So, in theory, they ought to give A$200m a good push or scare at least. Stating the obvious, that's nigh A$0.20 / share cash....

    Hope I'm close to right.

    Aside from GRR having a very big box of surprises always at the ready, my only reservations are:
    (a) STDSF ... I think this is about 12 months post expected commissioning date ... that sort of delay would not have been cheap and maybe a write down ahead;
    (b) Melbourne development ambitions ... no idea and I can only hope that FIRB rules require GRR to apply;
    (c) the current underground mining concept ... is this a red herring?

    Have a great day
 
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