Southdown Project, page-24

@sharky1

Funny you should mention MGX - their CEO mentioned in the latest conference call they were looking at some greenfield projects.

He didn't mention which ones but you would have to think there would be some synergies between Grange and MGX. Provided KI gets up and running as planned GRR and MGX could almost fund the smaller capex option ($1.4 billion) between themselves given they have over $600 million cash between them and would be spitting out 6m tonnes of high grade ore at say $50 tonne profit for the next few years.

MGX is also closing down its mid west operations in the next year so there would be plenty of spare machinery lying around that could be moved south without too much effort to start working on the project.

It beggers belief that management lets the share price languish like they do. GRR is cheap just based on Savage river, cash reserves and its high quality ore, but throw in Southdown with has close to 400 million tonnes of some of the highest grade ore in the world and the the stock would appear to me to be ripe for takeover.

Probably wishful thinking on my part, but if high quality ore premiums stay as high as they are then surely it's only a matter of time.

GLTA/IMHO