Agree. The suggested 1.0c dividend and a 0.5c special would only require $17.3m cash. GRR will be awash with cash by March 2018 and no major capex plus Dec 17 month's shipments likely to exceed 300k t thus Q4 shipments expected to expect 725k t and premium pricing / robust margins. Significant market re-rating may require Q1 2018 shipments and production to be consistent without surprises on downside.
Pellet Price, page-75
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