Many of us here are focusing on the Pellet price and volume GRR...

Many of us here are focusing on the Pellet price and volume GRR produces, and also trying to figure out why the sp is so depressed against net cash.
Back a few years ago I have compared MGX with GRR in the similar situation: both were trading at near/discount the cash backing, but MGX was in a more bleak position that the major mine had a wall collapse.
I held both and was in a sort of conclusion that GRR win, as it has much bigger margin and the profit is higher.
However today MGX is trading over 50 cents and GRR lagged around below 20.

The management team is probably the reason: MGX has a conservative and consistent team that focus on the mining business, and in the mean time trying their best to preserve the cash.
And GRR: is Chinese controlled (both shareholding and the board/management), they shocked everyone with weird business insight: minimise shareholder's return by not paying much dividend, and throw the fund into a none mining -related "property investment" in the star of biggest property downturn.

Building apartment by a mining company, in a doomed time in property market , the idea is simply SUCKS!

It matter NOT if it will have another good operating quarter or not, it's the management and shareholding structure that overshadows the business.
Without getting out from those broken strategic decisions and start paying investors meaningful dividend from the fat cash pool, this company will continuously trade at discount.