# GRR - Grange Resources



## markrmau (28 September 2005)

This is certainly one volatile little sucker!

GP, do you still hold?

I am thinking of jumping in on the next upswing.


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## GreatPig (28 September 2005)

markrmau said:
			
		

> GP, do you still hold?



No, I sold today for $1.08. Bought for $0.94 on 30th August, so got just under 15% in a month.

Cheers,
GP


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## markrmau (29 September 2005)

GP, don't look at the depth (9:06 am)


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## GreatPig (29 September 2005)

Yeah, I see a big buy order at $1.20.

Nothing unusual about that. Given I sold yesterday, I'd expect a 20% to 30% jump up today at least. 

GP


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## markrmau (18 October 2005)

Grange is maturing nicely. Volume picking up and 2.7% and 4.4% increase over last two days.

Wonder what's happening?


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## sangshim (22 July 2006)

Grange mine to generate $22b in revenue
Email Print Normal font Large font July 21, 2006 - 6:01PM

Advertisement
AdvertisementJunior iron ore developer Grange Resources Ltd's flagship Southdown project will generate more than $22 billion in total revenue with construction of the mine due to start next year.

Netherlands-based chairman Anthony Bohnenn said the magnetite deposit would cost $1.6 billion ($US1.2 billion) to develop and the company was now looking for a joint venture partner to shoulder the entire development cost.

More than 20 international companies, including trading houses and steel makers, have registered interest in being involved in the project, located in the south of Western Australia.

Based on conservative iron ore prices, about 40 per cent lower than current levels, the mine would make a net profit of between $5 billion and $6 billion over the entire 22-year mine life.

"But that is likely to be more than 25 years," Mr Bohnenn said.

"The exciting thing is the quality of the ore is so good."

Mr Bohnenn said Grange would sell down its interest to between 40 and 50 per cent in exchange for the project being fully funded by joint venture partner.

Grange plans to build a 105 kilometre slurry pipeline from the mine to the port at Albany, shipping 6.6 million tonnes of ore up to a pelletising plant in Malaysia.

The pellets will sell for a premium on the world market as no coking coal needs to be used to make the final product - steel.

Brazilian miner CVRD currently monopolises the southeast Asian pellet market and Grange is confident its pellets will be cheaper for customers.

Mr Bohnenn, a former investment banker, said the iron ore price would remain very strong for the next two years with China continuing to be the driving force.

The project is based on half of a deposit split down the middle by a road with Rio Tinto holding the other half.

Mr Bohnenn said Rio Tinto was keen to hold the entire deposit, but Grange had quietly picked up the exploration licence two months before Rio moved on it.

"My dream is to get to have and mine Rio's half too," Mr Bohnenn said.

Construction of the project is due to start next year with first production expected in mid-2010.

Grange shares closed five cents stronger at $1.35 on Friday.


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## sangshim (22 July 2006)

If the mine can generate $5~6b over 22~25 years mine life and GRR holds 50% share after the capital raising by the JV, that will be $2.5b over 25 years using the conservative iron ore prices.

2500m / 25 = $100m per year in revenue.

It seems like there are around 90~100m shares on issue.

$100m / 100m = $1 revenue per share per year over 25 years.

It's currently traded at $1.35

Would it be worth to buy for a long term holding?


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## markrmau (10 December 2006)

I haven't ramped this for a while it seems....

Cop an eyeful of this.

http://www.grangeresources.com.au/images/7-BBY_Sept_06.pdf

I think they are being conservative.

As long as the Russians DON'T take it over, we are looking at $10/sh in next 1-2 years.


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## Sean K (10 December 2006)

markrmau said:
			
		

> I haven't ramped this for a while it seems....
> 
> Cop an eyeful of this.
> 
> ...



Mark, good ramp, cheers. $10 in next 2 years, good ramp, BBY only put $5.00ish on it, why is your target double? Does look pretty good.

A LOT of resistance at $1.60 ish, if it gets through that it would be interesting.


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## qlksvr (24 May 2007)

Well grange have broken through the $1.60 mark, they are currently at $2.11.  Over the last couple of weeks they have gone up 30% on no news.  Any thoughts on why?
Cheers


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## Lachlan6 (24 May 2007)

Dont know Qlksver but (GRR) looks spot on from the technical side. A strong breakout today of a VERY bullish ascending triangle pattern means something is going on at (GRR). Huge volume recently, blue sky territory (GRR) looks set for some much higher levels. Probably will jump in tommorow depending what it does. Absolutely love these kind of set ups.


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## qlksvr (25 May 2007)

Yeah I have been holding these ones for about 4 years, so I have been watching them slowly mature.  I believe this company has alot of potential.  Output doesn't start on the Southdown project until 2010, so I think I will be holding to at least until then.


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## qlksvr (1 June 2007)

Grange announced this morning that the Japanese firm Sojitz has entered into a binding joint venture implementation agreement to become a 30% joint venture partner in the billion dollar Southdown Project.  It seems all good at the moment, currently at $2.25.


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## MR. (15 June 2007)

Giday people. Thought you might like some interesting reading from BBY if you didn't already know. 
Grr is Valued by BBY at $5.68 currently $2.09
http://www.grangeresources.com.au/images/grange-31--theel.pdf

Also refer to GBG report its a good read. Mentions GRR on page 3.
http://www.gindalbie.com.au/files/broker_reports-97-070529_BBY_May_2007.pdf

I now hold GRR. I do not hold GBG. 

Good Luck. Will the Magnetites come into operation? I bet they do.


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## Sean K (15 June 2007)

MR. said:


> Giday people. Thought you might like some interesting reading from BBY if you didn't already know.
> Grr is Valued by BBY at $5.68 currently $2.09
> http://www.grangeresources.com.au/images/grange-31--theel.pdf
> 
> ...



Thanks Mr for the link. That's a hefty valuation difference there! Almost tripple the current market cap? Golly. That's some upside. I don't see iron ore plays comming off too much even with a bit of a correction. Along with O&G seem to be the flavour of the month. I've only been watching Grange because I have some (maybe too many) options in MAK who are working on the West Southdown Project. Maybe there will be a merger/farmin by this Japanese mob one day? 

Chart wise this is looking very interesting. Recently broke through $1.85 ish all time high and has now formed a pennant with three inside candles. Looks to me like it _should _break to the upside from here. Volume has been great. 

Cheers.


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## MR. (19 June 2007)

Thanks for your reply Kennas. 
I have checked out MAK thanks for this info. 
(MAK is investigating to the west of Grange Resources (continuation)). 

I take it you don't own shares in GRR. But I would be interested if you have an opinion as to why GRR continues to be well below BBY's reports.

Thanks.


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## Sean K (20 June 2007)

MR. said:


> Thanks for your reply Kennas.
> I have checked out MAK thanks for this info.
> (MAK is investigating to the west of Grange Resources (continuation)).
> 
> ...



I have bought some now, MR. Just a few. I'm being a little cautious ATM. However, that valuation disparity seems a little absurd to me. I wonder who is wrong? I can't explain it.

Chart wise, (this is one year chart - above was 3 year weekly), the pennant is still forming with really short term support at about 2.08 and resistance at 2.15. I'm expecting a breakout to the upside here, considering the long term trend and the general market conditions at the moment, although the MACD and stochs have just gone bearish on us.  Can't imagine it falling over, but I've got a stop at $1.98.


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## MR. (14 July 2007)

So whats wrong with GRR?

They have been working on the mine since Nov 2003.

The magnetite iron is of high quality. Energy consumpion to grind is far less than CFE. 

Piping 100km to Port Albany not a problem with only one pump required at a dia of 300 - 400mm.

If permission is a problem through private land because they want too much as a royality, will the government allow the road ways as access?

Further funds need raising, yes. But they are not going to sell almost the mine or/and issue a billion shares. 

Strip ratio high at 3:1 (3 parts dirt to 1 part Magnetite) 

Only one mine will be built. So Rio will extract their portion via GRR. Rio missed out on GRR's part of the mine by a couple of months 4 years ago.

Workers would not be a problem. Not like the Pilbura. In fact Albany not only being a nice place have the population.  

Waste water from pumping is extracted under one roof and pumped back to the mine. They arn't going to make a mess.

Comments anyone. Come on.


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## Sean K (14 July 2007)

MR. said:


> So whats wrong with GRR?
> 
> ......
> 
> Comments anyone. Come on.



Funnymentals are still there Mr. I was stopped out and didn't go back to catch this recent jump. 

Will probably push on to $10 now...


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## MR. (14 July 2007)

kennas, I thought you may have been stopped out. I'm sorry to here of your loss. I'm no expert so I'll end up losing more than you. 

I have found no reason why this company can not go into production. 

BBY's reports on GBG and FMG have proved correct so why not GRR? 

I'm not going to sell unless I come across a good reason.


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## MR. (17 July 2007)

As it appears that few are interested in Grange i'll pass on the latest broker report anyway. Released now on Grange Resources website.
Not that I want to encourage too many short term traders its hammering CFE now.

http://www.grangeresources.com.au/images/grange-31--uphoh.pdf


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## Pommiegranite (22 July 2007)

Can anyone tell me whether Grange's pellets will be merchant pig iron, as Shaw stockbroking's modelling is using a long term projection of $88 per tonne.

http://www.grangeresources.com.au/images/grange-31--uphoh.pdf

This seems very low for MPI

Thanks


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## MR. (23 July 2007)

Pommiegranite said:


> Can anyone tell me whether Grange's pellets will be merchant pig iron, as Shaw stockbroking's modelling is using a long term projection of $88 per tonne.
> 
> http://www.grangeresources.com.au/images/grange-31--uphoh.pdf
> 
> ...




Pommiegranite, Grange's pellets are not Pig Iron. Pig Iron at about $300US per tonne has a higher price then pellets.

DRI pellets are currently priced at about $90- AUD per tonne. Shaw's long term projection using $88.50 AUD is not out of the question because DRI pellets are expected to rise because of the lack of scrap steel on the market. 

DRI pellets can replace scrap steel input in EAF. (Electric Arc Furnaces)


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## greenfs (24 July 2007)

The graph for this share is going up in a big way with solid MACD performance; all I might add on solid buying volumes over the past few weeks/months. 

Does anyone disagree that we may be looking at $2.80 anytime soon?

I am a recent buyer of this stock in a relatively small way mainly for the purpose of establishing a base for future analysis and investment decisions. Cheers.


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## MR. (26 July 2007)

greenfs said:


> The graph for this share is going up in a big way with solid MACD performance; all I might add on solid buying volumes over the past few weeks/months.
> 
> Does anyone disagree that we may be looking at $2.80 anytime soon?
> 
> I am a recent buyer of this stock in a relatively small way mainly for the purpose of establishing a base for future analysis and investment decisions. Cheers.




I don't disagree now. The price is $2.75 I hope you aquired some shares when you asked the question! Good luck either way. 

I don't know where this share is going to go in the near future. There is a lot of interest in Iron Ore and I think the magnetite mines are under priced compared to others. I know once the mine is in production it will be worth alot more than current share price.


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## qlksvr (9 August 2007)

Well this stock continues to please me, up to $2.90 now and up $0.40 this week alone.  I am suprised that there is so little interest in it.


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## greenfs (9 August 2007)

Someone is sure interested or otherwise the sp would not be going north in a south market. I have doubled up in the early days and am contented to sit pat for a while.

I can't find out too much about this one. Just bought on the chart movements. With a name like Grange how can we fail.


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## MR. (11 August 2007)

Grange is in a trading halt until Wednesday.

http://www.asx.com.au/asxpdf/20070810/pdf/313xk52p2k76xx.pdf

Perhaps this may explain why this company kept heading north when almost everyone else was heading south. Although I noticed alot of the buy orders had been smallish over the week. 

I can't imagine any bad news only good. Looking forward to Wednesday.


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## qlksvr (13 August 2007)

Well this website is speculating that grange will be doing a deal with rio, interesting.


http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=5DC7F5AE-17A4-1130-F50157E982C3D00B


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## jtb (13 August 2007)

qlksvr said:


> Well this website is speculating that grange will be doing a deal with rio, interesting.
> 
> 
> http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=5DC7F5AE-17A4-1130-F50157E982C3D00B




Fair write up in todays West Australian also, talk of Rio link (speculation) / the chinese yaddayaddayadaa.
I don't have a link though.


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## MR. (13 August 2007)

Thanks for the link qlksvr.
Found this link believed from the West Australian but was yesterday not today.

http://new.quote.com/stocks/story.action?id=ABX224i8294


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## qlksvr (14 August 2007)

Well the news is out and as suspected Grange has signed an agreement with Rio Tinto to acquire a 100% interest in Rio Tinto’s Exploration Licence E70/2512 containing the eastern 6km extension of the Southdown magnetite deposit.


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## gfu (27 August 2007)

Dear Grange stakeholders.
Since the news about the Rio stake is out ( in my view a win win situation ) the stake is only going South, inspite of a strong recovery of all junior miners. It was down in 3 days from $3>2,10 and doesnot move above $2,30/35 the last couple of days, inspite a very strong recovery in the market. It's more pulling a dead horse with pretty low volume.
Moreover the share performance of GRR compared to MMX, SDL,MIS,GBG,FMG etc is more a snake uphill the last 2 years and not much fun, inspite of all BBY's efforts.
Does anyone on this forum have an explanation for this low interest?


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## MR. (28 August 2007)

gfu said:


> Moreover the share performance of GRR compared to MMX, SDL,MIS,GBG,FMG etc is more a snake uphill the last 2 years and not much fun, inspite of all BBY's efforts.
> Does anyone on this forum have an explanation for this low interest?




In the past 12 months you could have made (500% MMX) (300% SDL) (MIS 400%) (GBG 200%) & (FMG 200%) and I which do I own...  GRR at 60% increase in 12 months and I haven't even got that. 

All of these companies above have at lease some Hematite iron ore. MMX, SDL, MIS, AND FMG basically only have Hematite and many have the capacity to increase their resources. The closest to GRR would be GBG Gindelbie, which is targeting exports of only 8mt's from resources of 22.8 mt's of Hematite and Approx 1.43? bt's of Magnetite. Grange initially will export 6.8 mt's of DR pellets so is close to GBG's 8mt's export. (Grange's DR pellets are better) Gindelbie has a better strip ratio than Grange with its Magnetite, therefore the cost of extraction will be slightly higher for Grange.

It would be a good question to ask Grange Direct and if you could post their responce for all to read.

I am not too concerned with Grange. It's just that we have known the size of their resource and it does not contain Hematite. 

John Veldhuizen from BBY has been correct with his valuations on Hematite mines which I have read in the past. BBY points out that the Grange is trading at a 60% discount to their valuation of $5.58 released only one week ago.
http://www.grangeresources.com.au/images/grange---tohso.pdf

If Cape Lambert Iron Ore receives its first payment at the end of this week (31/8) from a Chinese investor, I am confident this will boost Grange's share price. Both Cape Lambert and Grange hold Magnetite.


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## gfu (29 August 2007)

Thanks for respond.
I agree that there is some reluctancy based upon Magnetite or Hematite, however main reason for slow performance to my opinion might be a combination of bad PR work and their timeschedules which they do not hold, fe JV partners to be launched mid aug 2006, they announced this in march 2006.
Todate, 12 months later, only 1 JV partner is launched for a very low entry price.
We have had 4 trading halts the last 2 years, all market responses were negative to the news. Reason, a very poor PR wording in the text, it is not the kind of Puclic Relations of FMG, which makes it sexy.
However the good news is that one might expect that the next 1 or maybe 2 JV partners will be launched soon, maybe around or before september 27, on which date there is a shareholdersmeeting to approve the RIO deal.


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## qlksvr (17 February 2008)

Whats peoples thoughts on this one? In December there were media releases every where that Grange was in 'talks' with a number of middle eastern companies, but I havent heard anything since. I see that they were over at the Australian resources conference in Dubai this week promoting Southdown. If Rio is taken over by BHP will this have any negative consequences for Grange? since Rio hold 9% of the stock as well as 17 mill unlisted options.


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## MR. (14 March 2008)

More sellers than buyers across the board and Grange keeps on falling. To what price are these sellers willing to get out at? 

Grange has better quality magnetite than Cape Lambert Iron Ore. Cape Lambert Iron Ore has a bigger resource but most is in thin layers hundreds of metres under ground. Grange is better but lets say Grange and Cape Lambert are similar. (including Lambert's transport to Cape Preston Port is similar to the distance to Albany port for Grange) The Chinese have offered $400 million just 3 weeks ago for the whole Cape Lambert Iron Ore project. Surely if Grange was to sell the project "now" they would get at least $400 million. That does not include Grange is far more advanced than Cape Lambert. I'm just talking about the resource. 

So "one step at a time" (In my opinion to find a share base for Grange) $400 million as is.
(Grange owns 70% = $280 million)= $2.43 per share. Current price is $1.55 

With the current Iron Ore price increase of +65-71% from Rio and Bhp expected. Is it going to be harder or easier for Grange to attract its second major partner? In my opinion the steel mills being blackmailed by the major iron ore suppliers and I think many steel mills will want to control their supply of ore?  

Perwaja Steel (next door to Grange's proposed pellet plant) was paying in the order of $180- per tonne "last" year and used 1.5 million tonnes. (+71% increase this year) Do the maths!      

The Age today:
http://business.theage.com.au/grange-heads-downstream/20080313-1z9l.html

Today's ASX release Investor Presentation:
http://imagesignal.comsec.com.au/asxdata/20080314/pdf/00823177.pdf


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## qlksvr (17 March 2008)

Jez they have been hammered again today, a low of $1.365.  I guess the prospect of having a large debt to fund southdown is too scary for most investors.


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## MR. (20 March 2008)

The debt issue will be very interesting....
Put it this way, is nobody going to buy a house now?
--------------

Yesterday Vale Blast Furnace pellets bound for Europe (BF Pellets) have now been negotiated for 2008.

BF Pellets *86.67% increase *,  DR Pellets prices should be higher.

http://www.vale.com/vale_us/cgi/cgilua.exe/sys/start.htm?infoid=2250&sid=554

Grange Resources has been working towards producing DR Pellets. Include their joint venture partner Sojitz of Japan and things are looking good. Since 1974 Sojitz has been an equity partner producing pellets in Brazil.  

If Vale is investing a substantial amount to increase pellet production doesn't the JV between Grange and Sojitz have a chance?

Beware: If you are interested in Grange I have no doubt that "Stops" have contributed to the sell down along with the manipulators. Set stops, Manipulators manipulate, stops and suckers activate, lions pounce. It appears to be happening again and again. (Just my opinion, invest how you want)


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## MR. (3 April 2008)

Vale has now released their 2008 DR Pellet prices. $2.4222 dmtu.

This is about US$167- per ton for Grange's Pellets. Freight from Brazil to Asia is approx $30- per ton. My calculations with information from Grange totals US$197- per ton (US). Thats the benchmark price with delivery.  I believe the Spot market last year was paying approx US$180- per ton delivered into Asia. 

The article from Vale:

Rio de Janeiro, April 2, 2008 – Vale, the world's largest iron ore and pellets producer, concluded the direct reduction pellet price negotiations for 2008 with four important clients in the Middle East and North Africa: Ezz Steel, located in Egypt, Libyan Iron and Steel Company, in Libya, Qatar Steel Company, in Qatar, and Saudi Basic Industries, in Saudi Arabia.

As an outcome of these negotiations, the direct reduction pellet price, FOB TubarÃ£o, increased by 86.67% relatively to 2007.  Therefore, the new reference price per dry metric ton Fe unit for 2008 is US$ 2.4222 for TubarÃ£o direct reduction pellets.
http://www.vale.com/vale_us/cgi/cgilua.exe/sys/start.htm?infoid=2286&sid=554


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## gfu (4 April 2008)

MR.
Have you also calculated their NPAT with this new pellet price, knowing their cost is US$ 52.
The outcome is >US$ 957 million bottom line, marketcap now $ 170 million.
It seems that very few people are aware of this at this moment.
NPV on operational basis will be > $ 2,5-3 billion one day.


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## gfu (12 April 2008)

I heared that the new CEO restarted negotiations with parties for financing or takeover. Timing should be perfect after price raise of DR pellets.


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## MR. (15 April 2008)

gfu said:


> MR.
> Have you also calculated their NPAT with this new pellet price, knowing their cost is US$ 52.
> The outcome is >US$ 957 million bottom line, marketcap now $ 170 million.




GFU
IE: 6.6MT's x ($197 UST - $52 UST)  = your US $957 million...

But my $197- is delivered to Asia. There will be a freight charge but it should not be as high as $30- per ton as this is from Brazil. Your NPAT = "net profit after TAX" is a little high.

I do agree that the new MD Russell Clark should be speaking to protential JV partner/s. Grange has not had a Managing Director really since Geoff gave notice on the 23/10/07. Russell began as MD on the 6/3/08. It is definitely time now for the MD to be negotiating.


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## MR. (20 May 2008)

Guys need your help here! 

This has been happening for weeks. The following just happened again with GRR.

10:20:06 AM 1.620 4,591 7,437.42 
10:20:05 AM 1.620 100 162.00 

Only 100 shares up to buy @ 0.62
Someone places 4,691 shares @ 1.62 for sale and takes out the 100, a second later a computer places a buy order for the rest. (4,591) That 100 activated the buy order.

There is very little support on screen with GRR. 

Is this a common way to accumulate a companies stock?


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## MR. (30 May 2008)

Directors buy
Anthony has bought another 145,000 shares @ $1.59  

Does give some confidence to the holders with all the mucking around with the share price.


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## MR. (12 June 2008)

Krakatau Steel eyeing stake in Grange Resources.
http://209.85.173.104/search?q=cach...EEL+grange+resources&hl=en&ct=clnk&cd=1&gl=au

http://munir-haikal.blogspot.com/2008/06/ks-learns-to-acquire-grange-resources.html


Vale eyes Malaysia to build a pellet plant. 
http://www.forbes.com/reuters/feeds...T_0_VALE-IRONORE-ASIA-UPDATE-1-INTERVIEW.html

3 directors of Grange in the last 2 weeks have bought more shares. The last director to buy has bought 75% of his holding at $1.65. Yesterdays close was$1.67 

Can not work out the stacking at $1.70 perhaps it is a successful attempt to keep the price down. Has been there for 3 weeks and hardly anyone has touched them, started with one seller of 175,000.


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## Sean K (12 June 2008)

Could be some capping going on there MR. I am loath to use the term as it usually comes from rampers trying to explain why a stock isn't moving, but I have seen it now and then. Might be the case here for brokers to accumulate stock for interested parties.


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## MR. (12 June 2008)

Thats the problem you can't tell.  Some quite purchases have been going on for weeks as I posted above on the 20th May and still continue to happen.

That 175,000 is pulled after every days trade and put back on each morning at about 9:30. Often someone else has put a few thousand up on $1.70 before the (approx) 175,000 is put back on so they are now second in line. (they are never going to sell at this rate) If it is being capped it appears that way to me.  

To the DSO Haematite lovers:
Articles written by Tim Treadgold over the past year have not helped Grange at all. His view has not changed "sell all magnetites and buy DSO." Look at the quality being planned for extraction from so many other miners including FMG. None of this stuff is any good for Direct Reduction (DR) steel mills you need at least 66% Iron with very low impurities of less than 4% SIO2 and AI2O3 combined and very low phosphorus. 

Pellets made from "Magnetite" makes up the short supply. Not short supply of DSO but the high grade DSO Haematite which hardly anyone has, we can't ship it because we don't have much of it. Such high grades of Haematite are rare.

If you have the opinion that magnetite is only used to make expensive concentrates which is the same as all these DSO juniors which simply dig it up out of the ground and ship, your opinion is flawed.   

It is because of the expense involved with a pellet plant everyone moves into DSO. But high grade Iron Ore is still needed. This demand will not go away. Vale CVRD (one of the big 3 in iron ore) is now looking at setting up a pellet plant in Malaysia of some 7MT. (as link posted this morning) Grange has had plans for a 7MT pellet plant in Malaysia for years. Grange is looking for further partners which could include a partner just for the pellet plant.  

Further more Tim Treadgold did not believe in FMG. 
It was only last year he started to believe in Fortescue.  
I wonder how many will change their minds! 
I hope its not me, but these are testing times.

HOLD


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## MR. (12 June 2008)

MR. said:


> Krakatau Steel eyeing stake in Grange Resources.
> http://209.85.173.104/search?q=cach...EEL+grange+resources&hl=en&ct=clnk&cd=1&gl=au
> 
> http://munir-haikal.blogspot.com/2008/06/ks-learns-to-acquire-grange-resources.html





STOCK EXCHANGE ANNOUNCEMENT
KRAKATAU STEEL
12 June 2008
This week there have been a number of articles published in the Indonesian Business newspaper “Bisnis Indonesia“, and also reported by Bloomberg that PT Krakatau Steel may buy a 20% to 30 % stake in Grange Resources Limited (ASX:GRR) to secure iron ore supplies.
Grange has not had any discussion or communication with Krakatau Steel in recent months about any facet of the company or the Southdown project.
As previously announced in the quarterly report issued on 30 April 2008 Grange is continuing to progress discussions regarding the company’s Southdown project with a number of significant international companies.
As the outlook for the future demand for pellets and in particular for the premium quality DR pellets, has improved dramatically, Grange remains confident of securing the necessary investment to advance the project.


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## MR. (17 June 2008)

A couple of weeks ago MD/CEO Russell Clark of Grange did a presentation at Amec Sydney. Grange was recorded by Board Room Radio. The Link takes about 10 minutes to download and you can listen while you view the presentation.

Explains in brief Blast Furnaces (Haematite / BF Pellets) and Electric Arc Furnaces (DR Pellets). 
This year Carajas Lump raised by 71% but DR Pellets raised by 86.67%. 

http://www.brr.com.au/event/46323

- Production of 7 million tonnes for 35 years.
- US $1+ billion potential revenue per year.
- EBIT (Earnings Before Interest and Taxes) potential US $400 to US $500 million per year.
- Current Market cap is $184 million.


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## MR. (29 June 2008)

kennas said:


> Could be some capping going on there MR. I am loath to use the term as it usually comes from rampers trying to explain why a stock isn't moving, but I have seen it now and then. Might be the case here for brokers to accumulate stock for interested parties.




That was on the 12/6/08 I brought it up. The following day no more capping / stacking of that $1.70 sell depth.    Did someone read ASF?  

Anyway, buying depth Friday looked great with good volume. Closed at  $1.66
Do any ASF members currently hold GRR?


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## ta2693 (29 June 2008)

1.6 billion ton Magnetite CFE sold for 400m
GRR has 0.5 billion ton. I give 140m  market value
another 0.5 billion ton potential. 40m market value
180m the price seems very fair. 

ARH market cap 700m for output of 6mt pellet
BFS predict NPV 3000m 
Everything is in place production in 2011 as plan.
GRR 180m, 7m pellet output
early stage, current market situation, I think it will be difficult to get finance.

I think GRR looks cheap. but not so cheap to have baggish return.


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## MR. (30 June 2008)

ta2693 said:


> 1.6 billion ton Magnetite CFE sold for 400m
> GRR has 0.5 billion ton. I give 140m  market value
> another 0.5 billion ton potential. 40m market value
> 180m the price seems very fair.
> ...




Well, should I respond? Some people are far smarter than they like to appear, so some questions in return perhaps.

Can all that 1.6 billion tonnes of Magnetite of CFE's be extracted by an open pit? Isn't a lot of the resource in thin layers deep under ground. How far away is it before underground mining for Magnetite is done here? And the quality! Is it fair to divide $400m by 1.6 billion and multiply that by 0.5 + a bit? No..........

So Grange is at an early stage is it?  ARH has a market cap of 700m approx with a plan for a similar quantity of DR pellets to Grange.  Does ARH have EPA approval? Has ARH submitted their final submission to the EPA for that approval as yet? On the 18/6/08 they still hadn't. But Grange has.....   

Finally since you brought it up, what makes a multi bagger? I would have thought low price with plenty of upside! Good Luck.....


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## MR. (30 June 2008)

http://www.asx.com.au/asxpdf/20080630/pdf/319ws8vn09w3gs.pdf

EPA RECOMMENDS APPROVAL OF SOUTHDOWN IRON ORE PROJECT.


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## Wysiwyg (26 July 2008)

I like the story so far MR. The high grade 69 % Fe pellet production planned from Kemaman with the close proximity to customers in S.E. Asia.The contacts with iron ore customers their partner, Japanese company Sojitz has.Their present operations in Malaysia are good for relations.A 22 year mine life with more resource nearby.(RIO isn`t it??) Forecasting Q4 2010 for first pellets isn`t that far away.As you say EPA approval.Bit of a false rumour amongst the Indos about a stake from Krakatau, lol.


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## MR. (26 July 2008)

Wysiwyg said:


> I like the story so far MR. The high grade 69 % Fe pellet production planned from Kemaman with the close proximity to customers in S.E. Asia.The contacts with iron ore customers their partner, Japanese company Sojitz has.Their present operations in Malaysia are good for relations.A 22 year mine life with more resource nearby.(RIO isn`t it??) Forecasting Q4 2010 for first pellets isn`t that far away.As you say EPA approval.Bit of a false rumour amongst the Indos about a stake from Krakatau, lol.




69% is close enough. The grade is 37.6% as mined, the concentrate is 69.76 and the pellets are 67.23%. confussing!

RIO does not own the resource anymore, Grange does.  Purchased from RIO for cash, shares and options in Grange. Sojitz I believe has contacts all over and perhaps even in the Middle East as well. First pellets will be longer than end 2010 and maybe 2012 now.  Well thats the time given when our new MD Russell Clark took control.  Grange has missed a few time frames in the past, by extending out to as much as 2012 Russell has a buffer.  Fair enough in my opinion, Russell will be paid reward payments for concentrate and pellets once in production. (no one likes missed time frames as well)

Krakatau, I still have trouble with, why they would leak the information in the first place, "if true".   Anyway nothing as yet.  Perhaps false.  Krakatau's profits have increased recently and I have read they are looking at expanding their 2.5mt's production out to 5mt's.  Arcelor-Mittal (by far the worlds biggest steel producer) is looking at spending as much as 10 billion in Indonesia which could include a stake up to 49% of Krakatua Steel.  

Vale is also looking at a pellet plant in Malaysia as well.
Anyway, lots happening in that part of the world.


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## qlksvr (2 August 2008)

Nice to see the price slowly heading north again, sitting at $2.04 at the moment on low turnover. Interesting to see that russias Evraz Group has showed some interest in Cape Lambert Iron Ore, this might put further interest into the southdown project.


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## MR. (3 August 2008)

qlksvr said:


> Nice to see the price slowly heading north again, sitting at $2.04 at the moment on low turnover. Interesting to see that russias Evraz Group has showed some interest in Cape Lambert Iron Ore, this might put further interest into the southdown project.




Yes it might.  So your still hanging in there qlksvr.  That's Good. 

IMO that other JV partner should not be too much longer.


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## qlksvr (4 August 2008)

MR. said:


> Yes it might.  So your still hanging in there qlksvr.  That's Good.
> 
> IMO that other JV partner should not be too much longer.




Yes MR Im still hanging on, Im a long term investor. I have had these shares for about 5 years now and have watched them grow nicely.


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## doogie_goes_off (4 August 2008)

It's certainly the best positioned and highest grade magnetitie resource that I can see apart from the coastal beasts that are lower grade but closer to market ie: CFE and others. I got in because of the grade, it has to be mined and someone will want in very soon.


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## qlksvr (5 August 2008)

Grange is up 7% to $2.35 today, its been a good week up 40c.  Nice to see some buyers starting to line up, however the sellers are starting to dry up. Hopefully a bit more positive news about southdown will push it through the $3 mark.


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## MR. (5 August 2008)

qlksvr said:


> Grange is up 7% to $2.35 today, its been a good week up 40c.  Nice to see some buyers starting to line up, however the sellers are starting to dry up. Hopefully a bit more positive news about southdown will push it through the $3 mark.




You had to bring up that dreaded $3- mark, but I'm glad you said through. I'm happy to see it above that $2- mark after buying all the way down to $1.30. Ofcoarse once arrived at $1.30 the boots were already full.  Doh....     
Then self doubt sets in. I don't own many stocks. I have dabbled a bit here and there and bought TTY recently Oops... 

Happen to notice BBY released another research report today on Grange.  On Grange's website BBY reports arn't listed anymore. I believe BBY requested for them to be removed as the reports are written for their clients. So I check the following site from time to time to get an Idea. 

http://www.bby.com.au/default.asp?S...&author=&Rtype=All&from=&to=&type=All&x=0&y=0


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## qlksvr (8 August 2008)

Nice to see that the Australia stock report rates grange resources as a buy  The report came out on the 28 July, so that might explain the rise in the sp over the last couple of weeks.  Looking good


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## MR. (10 August 2008)

qlksvr said:


> Nice to see that the Australia stock report rates grange resources as a buy  The report came out on the 28 July, so that might explain the rise in the sp over the last couple of weeks.  Looking good




Ref: ASR on GRR!

If they weren't suprised to see the support level at $1.30 and for it to bounce, why not put a buy on the stock at near those levels?  Why wait until now?  Hmmm   

I don't think much of ASR but their buy recommendation is on the right track.  They appear to give companies "buy" once the company has just shot up! Take a look at their reports on SDL, GBG, SPH and now GRR.  

ASR was recommending a buy of SPH for 16 weeks from (12/11/07 $3.82) while the share price sank down to the $1.60's. Once there in the $1.60's the buy recommendation had fallen off their list and not replaced. They wrote they would add SPH to their Absolute Fund (along with GRR ) but they never did.


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## MR. (22 August 2008)

Thought some may find the following of some interest. If you have more up to date figures, let me know. I'll also post my workings on the "iron ore" thread.




Magnetite Iron Ore concentrate comparisons:

GBG ground to 25 microns =   68.5% FE,    4.00% SIO2,   0.08% Al2O3,   0.012 Phosphorus  

ARH ground to 32 microns =   67.5% FE,    4.50% SIO2,   0.09% Al2O3,   0.030 Phosphorus

CFE ground to 26 microns =      66% FE,      5.8% SIO2,    0.45% Al203,    0.010 Phosphorus      

SPH ground to 45 microns =    70.8% FE,     1.24%  SIO2, (West Africa)

GRR ground to 38 microns =   68.8% FE,    2.06% SIO2,   1.41% Al2O3,   0.003 Phosphorus
GRR ground to 35 microns =   69.7% FE,    1.00% SIO2,   1.39% Al2O3,   0.005 Phosphorus
GRR ground to 34 microns =    70+?  FE     0.80?  SIO2,   1.38?  Al203,    0.0055? Phosphorus




GBG info' from 30/4/07 page 1  http://www.asx.com.au/asxpdf/20070430/pdf/3125s8fz5bstdp.pdf

ARH info' from 17/7/08 page 3  http://www.asx.com.au/asxpdf/20080717/pdf/31b6lkdfsmlr03.pdf
                           May08              http://www.austresources.com.au/pdf/latest_presentation.pdf

CFE info' from 14/02/08 page 2 http://www.asx.com.au/asxpdf/20080214/pdf/317fmq5vmjsr41.pdf

SPH info' from 31/10/07 page 7  http://www.asx.com.au/asxpdf/20071031/pdf/315hr6xdy8qlcv.pdf

GRR info' from 28/7/08 page 3  http://www.asx.com.au/asxpdf/20080728/pdf/31bcbnntbl048x.pdf
                        05/5/08 page 24  http://www.asx.com.au/asxpdf/20080505/pdf/318yvy46wpgkvn.pdf


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## MR. (1 September 2008)

Qatar steel (Middle East) pulled out of a JV with Sphere Investments asx code "SPH" .
Also see "SPH" thread on ASF.

Qatar Steels responce: 
http://www.gulf-times.com/site/topi...=238713&version=1&template_id=43&parent_id=19

Sphere Investments is targeting 7 million tonnes of DR Pellets the same as "Grange Resources".  

Grange has been seeking another JV partner.


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## MR. (11 September 2008)

Vale on negotiations with iron ore clients

Rio de Janeiro, September 9, 2008 – Companhia Vale do Rio Doce (Vale), in compliance with a determination of Brazil’s ComissÃ£o de Valores MobiliÃ¡rios (CVM), informs that it is negotiating with Asian clients the convergence of reference prices for iron ore to the same level of those charged to European clients. Currently, reference prices for Asian clients are 11.0% to 11.5% lower than prices for Europe, depending on the type of iron ore.

http://www.vale.com/vale_us/cgi/cgilua.exe/sys/start.htm?infoid=2393&sid=554


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## Uncertain Times (2 May 2009)

Up 50% on close Friday. What to make of this company? On Thurs with the announcements it dropped 10%. On Fri everyone changed there mind and the price back up again.
Kennas has is listed in the OUSTANDING Breakout thread if your after a chart.


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## Wysiwyg (3 May 2009)

Another company share price decimated with good future potential. 



> Grange Resources (ASX: GRR ) is developing the world class Southdown Magnetite and Kemaman Pellet project. Collectively, the US$1.7 billion *project is expected to produce 6.8 million tonnes per year of premium **grade iron ore pellets from 2012*.




Also merged with ABM ... 


> Grange Resources Limited (“Grange” or “the Company”) announced on 25 September 2008, that it had entered into binding agreements to merge with ABM to create a leading mid-cap iron ore group with complementary production and development assets.
> Shareholders ratified the proposed merger of Grange and ABM in December 2008. The remaining conditions precedent to the transaction were subsequently satisfied and the *transaction was completed on 2 January 2009*.
> *The merger transforms Grange into Australia’s largest producer and exporter of high value magnetite iron products*.



Southdown Project W.A. (GGR 70%) ...


> With the volatility in the world financial markets and the depressed demand for most commodities, the project team is focused on high value activity, such as securing permits, land access, metallurgical test work and ore body modelling.


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## MR. (3 May 2009)

Uncertain Times said:


> On Thurs with the announcements it dropped 10%. On Fri everyone changed there mind and the price back up again.




Gota luv it!

Wednesday 29th, most sales were at approx 0.26  A late buyer pushed back to 0.295

Thursday 30th, back to 0.265 from open, volume of 7000.  Ann' at approx 2:30pm eastern time. No trades from the ann' to close.

Friday 1st, no trades for near an hour. First trade 0.295 at 10:56am, give da man a badge!!!!   2:21pm ASX Query on increase near 70% #%@$#% LOL....


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## Uncertain Times (4 May 2009)

Just readin back through ASX announcements and noticed that with the merger of GRR and ABM there was an agreement not to sell the GRR shares issued till the 09DEC09. There are about 340 million shares that are covered by this out of 495million shares.

http://www.asx.com.au/asxpdf/20090102/pdf/31ffqd7fywq6t9.pdf


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## skc (18 August 2009)

GRR out of suspension and announced a 1-for-1 rights entitlement offer with record date 26 Aug. This means anyone can still get it on Thursday (I think) to participate. Offer price is a huge discount at 25c against current price 49c.

Expect a large fall on the XE date, however.

Offer closes 11 Sept.


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## mrluva (26 August 2009)

When do you think i can sell my shares and still participate.?..........................................................


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## MiFFy (18 November 2009)

Sad to see this stock not getting much interest on here.... 

Strong growth ahead of it.... Company acquired the Savage River Tenement here in Tassie in January of this year which is producing 2.5mt iron ore p/annum. 

The state of or economy saw it reposition its balance sheets with a shares issue to raise capital to minimize debt and invest into the Southdown project which will replicate the already efficient Savage River Project and will produce 6.5mt of iron ore p/annum. 

One of Japans largest corporations has a 30% stake in the Southdown project. The company is also looking at putting a pellet plant in Malaysia where it will enjoy tax benefits and looser environmental issues. This will mean once the iron ore is processed it is essentially "around the corner" so to speak from the Asian market! 

Closing today at .26c with an all-time low last week of .235 this share is amazing value! (My own opinion... you do the research)

Hoping to see Southdown running in first quarter 2012. 

What are some others thoughts/opinions?


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## Ozymandias (18 November 2009)

P/E from FY09 certainly makes it cheap, but their cost of production per ton of pellets really blew out in Q1. 

In fact, it's higher than the benchmark, which is the contract price with Shagang! Hopefully the remaining ~45% sales will be at a much higher price...

Three bits of news could lead to an upward rerating:


Good Q2 production at low cost per ton of pellets
Environmental approvals for Southdown go through
New, and much higher benchmark price in April - which is practically invevitable, but 5 months away...

Disclosure: I have a holding at around ~9% of my portfolio.


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## MiFFy (26 November 2009)

Sydney - Thursday - November 26: (RWE Aust Business News) - Grange Resources (GRR) has received final ministerial approval for the Southdown iron ore mine, Western Australia, and associated pipeline infrastructure.

Managing director Russell Clark said the approval placed the company in a strong position to capitalise on the improving iron ore pricing environment for the years ahead.

"We now have the Southdown iron ore mine in an approvals ready state, which will greatly enhance any future discussions with potential project financiers," he said.

"This is a significant milestone in the development of Southdown and an important step in the development of Grange's second iron ore export operation.

"Together with our joint venture partner Sojitz, we can now look forward to continued progress at Southdown on our own development timetable, without any major foreseeable approval delays." 


More good news for GRR!


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## Speculator (4 January 2010)

Amoungst other things,

Grange Resources Limited owns and operates Australia’s *largest integrated iron ore mining and pellet production business* located in the north west region of Tasmania.

My L plater analysis says the fundies are strong and with iron ore being one of the leading base metals forecasted for growth in 2010 into 2015 why has GRR's SP not recovered?

Based on resistance level of .3 we may be due for a run.

If anyone has any info please share as I am puzzled.

Cheers


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## Ozymandias (5 January 2010)

Around half of their pellet output is contracted to Shagang at fixed contract prices. Judging by the last quarterly update, it'll be a very significant drop in earnings for HY10 - in Q1 the average cost of pellets exceeded the contract price with Shagang. I feel this is already priced in, but we'll see if the market agrees.

When the pellet contract is renewed at new pricing in April (I think) it's likely to go up 20% - 30%, so expect a rerate at that stage, or shortly before it. A good Q2 or progress with Southdown could also trigger a rerate.

Right now I can't see it going lower than the recent lows barring a major bad news announcement.


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## Speculator (5 January 2010)

Ozymandias said:


> Around half of their pellet output is contracted to Shagang at fixed contract prices. Judging by the last quarterly update, it'll be a very significant drop in earnings for HY10 - in Q1 the average cost of pellets exceeded the contract price with Shagang. I feel this is already priced in, but we'll see if the market agrees.
> 
> When the pellet contract is renewed at new pricing in April (I think) it's likely to go up 20% - 30%, so expect a rerate at that stage, or shortly before it. A good Q2 or progress with Southdown could also trigger a rerate.
> 
> Right now I can't see it going lower than the recent lows barring a major bad news announcement.




Ahh makes good sense thank you Ozy. 

Is there anyway we can get a confirmation on the dates for the pellet contract renewell?

Cheers


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## Ozymandias (5 January 2010)

It's in either the Annual Report, or one of the presentations from the last six months... or both. A few quick keyword searches should turn it up. 

If you are planning on buying in right before the contract price change, I would be cautious of waiting too long. I suspect others will have the same plan and this will drive the price up ahead of any announcement. But that's purely speculation on my part.

Disclosure: I own a parcel, I have no significant gain or loss on it right now.


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## MiFFy (6 January 2010)

Speculator said:


> Ahh makes good sense thank you Ozy.
> 
> Is there anyway we can get a confirmation on the dates for the pellet contract renewell?
> 
> Cheers




Hi Speculator,

                  Congratulations on finding a true gem in the market! I am lucky enough to live very close to the savage river mine and just around the corner from the Grange admin office in Burnie Tasmania. 

Iron ore contract prices are set to be re-negotiated in March of this year, I believe this is also when a lot of world players are talking Iron ore prices so it is set to be an interesting month. 

You can find this in the summary of page 39 of the annual report..... .

Good be seeing an upward trend already..... 

Good volume today, jumped from 1.8million to well over 4 million in a very short spurt in the afternoons trades. Finished up at 188 trades.... very promising.... Also buyers seem to be outweighing the sellers..... 

I am currently sitting at 11.63% increase on my GRR holdings.


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## Speculator (7 January 2010)

MiFFy said:


> Hi Speculator,
> 
> Congratulations on finding a true gem in the market! I am lucky enough to live very close to the savage river mine and just around the corner from the Grange admin office in Burnie Tasmania.
> 
> ...




Hey Miffy

I figured it would go hard in anticpation of those new contract prices.. just not this early. Sold out on Tuesday to put my money else where 

At least my money is working for me in its new home PRU. I'll probably buy in today some time... Don't want to miss the run and if i have to suffer a small contraction before it goes I'll just stick to my guns and ride it out.

GL


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## voigtstr (8 January 2010)

Speculator said:


> Amoungst other things,
> 
> Grange Resources Limited owns and operates Australia’s *largest integrated iron ore mining and pellet production business* located in the north west region of Tasmania.
> 
> ...




You picked that one well! Are you using a stock filter in a program like incredible charts to find stocks that are about to break out? If so what filter did you use.  I just noticed this stock tonight using a filter looking for new highs (my L plater experience suggesting it might have further to go if the reason its jumped up in the first place still holds true). 

Is my reasoning ok on this stock or will this method of looking for new highs or even filtering stocks that have gapped up just cause me to jump onto stocks once the horse has bolted?

Disclosure I have just placed an order for a parcel of shares in GRR.


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## MiFFy (8 January 2010)

http://www.businessday.com.au/business/iron-ore-price-surges-amid-panic-buying-20100107-lw22.html

Interesting article on the sudden increase in a lot of Iron ore stocks including Grange, looks set to run again today with buyers far outweighing sellers at 2:1 with shares to buy at 5:1.....

I for one believe GRR to be highly undervalued and am glad that i moved 100% into Grange just before this run.....


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## Speculator (8 January 2010)

voigtstr said:


> You picked that one well! Are you using a stock filter in a program like incredible charts to find stocks that are about to break out? If so what filter did you use.  I just noticed this stock tonight using a filter looking for new highs (my L plater experience suggesting it might have further to go if the reason its jumped up in the first place still holds true).
> 
> Is my reasoning ok on this stock or will this method of looking for new highs or even filtering stocks that have gapped up just cause me to jump onto stocks once the horse has bolted?
> 
> Disclosure I have just placed an order for a parcel of shares in GRR.




Hey Voigtstr

In regards to your first question I hold a St George Freedom Saver which is directly linked to my trading account, directshares.com (amoungst other reasons the ability to use directshares is the reason I recently moved from Nab to St.George). 

Direct Shares have a pre-programmed market filter tool. I choose the sector the market cap and a few other basic filters (including their fundamental valuation of companies based on their  criteria and then it spits out a list of companies. GRR was one of em and after checking it out my self I couldn't resist getting involved.

It's a good tool but is is very limited, as a novice trader it suits my needs at the moment but I will definitely be looking at software that has a much broader range of capabilities.

In regards to your second question I can only speak from my personal experience and opinion (which is in my opinion very limited) that being said I to am interested in developing a system which alerts me to large volume and sp breakouts. I think the important thing will be to carefully analyse the reason for the breakout and then decide whether or not the SP still has more room to move (possibly by using other indicators, assessing company news, looking at the sector its in and checking out the company fundamentals.)

Maybe someone else could give us their experience with filtering stocks for large SP/Volume breaks and how successful/ unsuccessful it has been for them.

Happy Trading


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## Buckfont (18 January 2010)

MiFFy said:


> Hi Speculator,
> 
> Congratulations on finding a true gem in the market! I am lucky enough to live very close to the savage river mine and just around the corner from the Grange admin office in Burnie Tasmania.
> 
> ...




Hi MiFFy, I`m with you on GRR and hearing of the environmental studies being fundamentally passed for port Albany to me thats  huge +++ for the Southdown project. I remember they had a sp of $2.40 odd, back in July 07, just b4 the `s` hit the fan. WPG is another, and with a 17% gain today they are due for more upside once the Dept of Defence get off their defensive high horse. I look forward to them justifying the reason I liked them in the first place.


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## Speculator (20 January 2010)

I have cut down GRR most recent ann to include highlights:

EPA RECOMMENDS APPROVAL OF ALBANY PORT EXPANSION PROJECT
Grange Resources Limited (ASX: GRR, Grange) is pleased to announce that the Western Australian Environmental Protection Authority (EPA) has today recommended that the Albany Port Expansion Project receive environmental approval.

This is another significant milestone for Grange and the Southdown project near Albany in Western Australia. The Albany Port Expansion Project will allow the port to cater for Cape Size vessels, supporting the proposed export of iron ore concentrate from Grange’s Southdown iron ore mine.

The use of the larger Cape Size vessels will contribute to shipping and operational efficiencies, as well as reducing by two thirds the shipping movements required in the Albany harbour compared to the current smaller vessels.

The Southdown project is predicted to employ over 600 people on a permanent basis in the local Albany region, with a potential mine life in excess of 30 years. A construction workforce of 1000 people is expected.
Figure 1 - Albany Port showing proposed location of new Berth in foreground.
Grange Managing Director Russell Clark said the release of the Bulletin was the culmination of extensive scientific studies, community consultation and submissions to the EPA.

The expansion will also provide benefits for other port users, with potential for reduced operating costs. “Albany Port has played a significant role in the development of the City of Albany, and the expansion will ensure that the Port continues to make an important contribution to the city and local region into the future,” said Mr Clark.

Grange is Australia’s leading magnetite producer, through its Savage River iron ore mine and Port Latta operations in Tasmania. Port Latta is currently Australia’s largest producer of iron ore pellets. Grange will use the expertise gleaned at Savage River as it develops the Southdown project.

Looking at GRR from a TA point of view combined with GRR's prospects for 2010 points, imo, to a significant re-rating in the comming weeks.

Do your own reaserch.

GL + HP


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## Speculator (7 February 2010)

Looks like weve dropped below the consolidation atempt from early Jan.

Could see the sp come back down to its previous lows if we keep getting strong negative leads from the US/global economy (but I think it's unlikely it will pullback that far).

Another good buy opportunity


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## MiFFy (2 March 2010)

Buckfont said:


> Hi MiFFy, I`m with you on GRR and hearing of the environmental studies being fundamentally passed for port Albany to me thats  huge +++ for the Southdown project. I remember they had a sp of $2.40 odd, back in July 07, just b4 the `s` hit the fan. WPG is another, and with a 17% gain today they are due for more upside once the Dept of Defence get off their defensive high horse. I look forward to them justifying the reason I liked them in the first place.




Good call on WPG mate, watched there run since you posted this and would have liked to have had some capital in them but hey.... there will be more....

And Speculator.... great TA posting your doing on GRR.... Cheers man.... i am slowly getting into TA as time allows!

As for GRR.... something is up today.... Broke through the .38 line to .39.... new territory this side of GFC....

Could possibly be related to the latest reports plus a combination of good market outcomes for the Australian commodities and still a lot of hype at the moment on Iron Ore..... 

Going to be an interesting year i say.....


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## roland (3 March 2010)

GRR has bounced off that nasty $0.40 resistance level again - albeit with a little blip to .42.

Looking forward to seeing $0.40 being broken again - and then, with fingers crossed, we'll be off and running


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## snorer (4 March 2010)

An enormous number of shares traded today in Grange, 54.8 million, advanced another 2 cents. all positive atm. anybody have any idea who,s buying such numbers?


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## MiFFy (4 March 2010)

snorer said:


> An enormous number of shares traded today in Grange, 54.8 million, advanced another 2 cents. all positive atm. anybody have any idea who,s buying such numbers?




Wow.... Were you watching the market today? What time did the amount of shares sky rocket to that much!?

Hoping to see a good run from Grange, broke the 40 mark and closed at .41.

As i said previously the only valid explanation I can see at the moment is that resource stocks are in the spotlight at the moment and in particular Iron Ore as benchmark prices are due to be released in the next 4-6 weeks and the expectation is that they will be significantly higher.

Grange still has plenty of cash to start the Southdown Project and has worked at improving the cost per tonne at Savage River..... 

Things are looking good.... I am a big believer in GRR....

http://www.businessday.com.au/break...s-want-iron-ore-price-hike-20100304-pkr5.html

Also just found that link, confirms my thoughts on Iron ore in the spotlight....


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## snorer (4 March 2010)

MiFFy said:


> Wow.... Were you watching the market today? What time did the amount of shares sky rocket to that much!?
> 
> Hoping to see a good run from Grange, broke the 40 mark and closed at .41.
> 
> ...




Didn't get a time line on the big movers, but 234 trades today. Read a similar article on expected movement in the iron ore price and it will certainly impact on Grange in the upcoming 12 months.  
I am a recent holder but significant movement of late, am hanging out for more.....


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## Buckfont (4 March 2010)

MiFFy said:


> Hi Speculator,
> 
> Congratulations on finding a true gem in the market! I am lucky enough to live very close to the savage river mine and just around the corner from the Grange admin office in Burnie Tasmania.
> 
> ...




Hi MiFFy, from one Tasmanian to another (by birth), GRR has always excited me. I am really curious as how Grange has impacted on the local community there and whether the infrastructure is going ahead in leaps and bounds.They put on 5.1% 2day and my other fav. WPG 8.2%.


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## MiFFy (5 March 2010)

Buckfont said:


> Hi MiFFy, from one Tasmanian to another (by birth), GRR has always excited me. I am really curious as how Grange has impacted on the local community there and whether the infrastructure is going ahead in leaps and bounds.They put on 5.1% 2day and my other fav. WPG 8.2%.




Hey Buckfont, Sorry but I was actually born in VIC lol. As for Granges impact on the local community.... no doubt that it does pump a lot of money through our communities on the North West coast but to be honest it is very hard to measure. 

They employ around 600 people plus contractors and have an office in Burnie. I know of certain businesses that rely on Grange for sustainability, businesses that have grown because of the work Grange has given them.


----------



## Speculator (5 March 2010)

Nice to get some long awaited action. 

I enjoyed the fact that it made strong gains right into the end of trading, really chased up into its previous high, and unlike it's previous attempt at a re-rating this time we are to close to the end of march with to much support to see any significant profit taking (imo of course).    

Recently looked into FRS, GIR, TLM, MGX, AGO and IXR (not in great depth) but GRR still my fav.

I love the fundamentals but looking from TA perspective (and taking all things into consideration - mainly leads from US, which imo will rally on the back  of commodity prices for another 2 months or so) I can't see much resistance till around $1 and I would not be surprised to see GRR at $1.50 in under two months.

HT GL and as always DYOR

(Disc: I have been self educating for 6 months and trading for 2.1 so I am still very much a noob )


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## MR. (5 March 2010)

Speculator said:


> I can't see much resistance till around $1 and I would not be surprised to see GRR at $1.50 in under two months.




Nearly fell off me chair,   Rightttttttt. 
As da man says "DYOR" (Do Your Own Research)...............!


----------



## Speculator (5 March 2010)

MR. said:


> Nearly fell off me chair,   Rightttttttt.
> As da man says "DYOR" (Do Your Own Research)...............!




Hehe so I am perhaps a little over enthusiastic (maybe I've become sentimentally attached 2 GRR) but as always time will tell


----------



## MiFFy (5 March 2010)

MR. said:


> Nearly fell off me chair,   Rightttttttt.
> As da man says "DYOR" (Do Your Own Research)...............!




Haha, you never know mate, I certainly believe it will get there at some point.... 


But i am hoping its in the next financial year lol.....


----------



## vine (11 March 2010)

Another 32+ million trade went through this afternoon. Is this another institution buying in before the IO price upgrade. As long as the SP keeps going north, I'm happy.


----------



## MiFFy (11 March 2010)

vine said:


> Another 32+ million trade went through this afternoon. Is this another institution buying in before the IO price upgrade. As long as the SP keeps going north, I'm happy.




Looks like Stemcor sold off there remaining 2.83% just after 1pm.....

Will be interesting to see who purchased those..... 

High of .48 today.... still trending upwards and over 400 trades...


----------



## vine (15 March 2010)

Still moving, up another 7% today  so far on 6+ million traded. What price do you think this will reach by the time new IO agreements announced.


----------



## Speculator (15 March 2010)

vine said:


> Still moving, up another 7% today  so far on 6+ million traded. What price do you think this will reach by the time new IO agreements announced.




Hey Vine

Based purely on the chart I'd say 70c is not an un reasonable expectation for 31 March.

GRR is a iron ore miner and more importantly magnetite producer (largest in AU) and thus are highly leveraged to increased demands in iron ore. They have somewhat of a niche market when iron ore is in high demand + supply as steel production facilities want to optimise productivity and expenses. And when Iron ore is easily available (due to all miners ramping up excavation) yet relatively expensive it is more cost efficient and faster  to use magnetite (due to its high quality) than it is it use the ore.

This combined with the fact that GRR has strong ties to China, a potential and probable large yet to be released (i think they said they are expecting drill results sometime in the next two months) iron ore body beneath one of their existing mines makes case for a significant re-rating in the SP in the near future (imo).

I hold and plan to do so for years to come


----------



## snorer (23 March 2010)

Still plenty of interest in Grange this week, edging up after some profit taking I suspect, closing at 53 cents today.Still time to increase one's holding I feel as future IO price still to be settled and valued by Patersons @ .67 cents per share (January 2010) as per the company's presentation to the London ASX conference 12 March 2010 .


----------



## vine (6 April 2010)

Grange continues to trend upwards another 10% today on increased volume. I think this still has a little way to run while awaiting I/O pricing. I am a happy holder at present getting in at low 40's  I know Speculator predicted a $1 - $1.50 a while back. How long do you think it will take to get there. I wouldn't be suprised to see $1 by the end of the year esp as more news comes through at their other project in WA.

I'm going to hold for a while longer.


----------



## Speculator (6 April 2010)

vine said:


> Grange continues to trend upwards another 10% today on increased volume. I think this still has a little way to run while awaiting I/O pricing. I am a happy holder at present getting in at low 40's  I know Speculator predicted a $1 - $1.50 a while back. How long do you think it will take to get there. I wouldn't be suprised to see $1 by the end of the year esp as more news comes through at their other project in WA.
> 
> I'm going to hold for a while longer.




$1 is to conservative for years end, divide your timeline by 8 and you'll be more on the money  Theres to much going on for GRR (I'm liking what I hear from thier Chinese counterparts about using GRR to acquire more AU Iron Ore Co's) for it to wait a year for it to hit $1 

At the end of this or next month when it gets to $1 it will have a steady increase to around $2 by years end imo (hurdles on the way obviously).

And i don't quite think predict is the correct word to use more of a guestimation evaluation ha! (all my calcs are really rough, the way I like it).



MR. said:


> Nearly fell off me chair,   Rightttttttt.
> As da man says "DYOR" (Do Your Own Research)...............!




Hows the stability of your chair feeling MR? lol I jest.


----------



## Ozymandias (6 April 2010)

Speculator said:


> Theres to much going on for GRR (I'm liking what I hear from thier Chinese counterparts about using GRR to acquire more AU Iron Ore Co's) for it to wait a year for it to hit $1




Can you cite a source there Speculator?

Hard to say where it'll be by the end of the year, given that prices are now determined on a quarterly basis and could go back down before then... But I'll surprised if it doesn't hit $1 between now and then... 

Consider that if the price settles at (say) US$160/t for pellets, then with a cost of US$65/t, and production of 2.5Mtpa, GRR will be pulling US$166.25M of profit, _after_ tax. That's assuming the maximum tax rate of 30% applies... So right now, that'd be a P/E of 4.5. Pretty low.


----------



## MiFFy (6 April 2010)

Ozymandias said:


> Consider that if the price settles at (say) US$160/t for pellets, then with a cost of US$65/t, and production of 2.5Mtpa, GRR will be pulling US$166.25M of profit, _after_ tax. That's assuming the maximum tax rate of 30% applies... So right now, that'd be a P/E of 4.5. Pretty low.




a good calculation, and yes it does mean a low p/e ratio, lets also consider that the price per tonne doesn't even reach that figure, lower again. 

I think Grange is getting a lot of fundamental investors at the moment.... They can see the potential of what the Southdown Project can bring, and with Iron Ore prices staying at these heights then we will see Grange grow on the market.
There is also a lot of attention focused on Iron Ore, take a look at a lot of companies dealing with this product and you will see substantial price hikes in the last six months. 

I for one love the hype having gotten in at mid 20's and holding a substantial portion of my portfolio. I can easily see Grange being at around $2 by the end of the year, 

My target is the $3 mark. Which I believe is achievable within two years providing continued progress with Southdown and Chinese demand for steel which seems to have a 20 year life ?

Be aware though, all this is my own thoughts, feeling, estimates and opinions. Do your own research and you will probably buy some


----------



## snowking (6 April 2010)

Just started looking at this stock and it seems very appealing so far, especially in the short term based on the charts.

Just quickly, i noticed that Shagang International Holdings Ltd has a very large stake in the company. Does anyone here think there will be a takeover?


----------



## Ozymandias (7 April 2010)

No, Shagang already has what they want from Grange - a secure and reliable source of pellets. Given that they only need a tiny proportion more to break the 50% barrier, if they wanted full control they would have done it already, when the GRR share price was in a slump.


----------



## Ozymandias (7 April 2010)

I haven't been able to find any solid figures on what pellet spot prices are at right now, can anyone point me to a reliable source for this information?


----------



## MR. (7 April 2010)

Speculator said:


> $2 by years end imo ..............
> 
> Hows the stability of your chair feeling MR? lol I jest.




Ya claimed a $1+ rise to $1.50 not 21cents to 65cents, within two months. 
Ya musta forgotten!

But wait there's more!


----------



## Speculator (7 April 2010)

MR. said:


> Ya claimed a $1+ rise to $1.50 not 21cents to 44cents, within two months.
> Ya musta forgotten!
> 
> But wait there's more!






For the record youll find that I called it on March 5th with a price target of  $1 in 2 months time (I also said I wouldnt be suprised to see it at $1.50). 

It's now April, so I have 1 month left to hit a dollar. 

Not 21c to 44c but 44c to 67c.

Looks like we may have misunderstood each other.

Regardless, what are your sentiments about share price reaching $1 by months end?

I personally can see it taking a breather next week and then making the final moves to around $1 when we get the quarterly.


----------



## Speculator (7 April 2010)

Ozymandias said:


> Can you cite a source there Speculator?




Hey Ozy 

Been looking all damn morning for the radio interview with the info bout GRR's Chinese investors potentially using Grange as a vessel to acquire more aussie miners but for the life of me cant find it, my apologies.


----------



## MR. (7 April 2010)

Speculator said:


> For the record youll find that I called it on March 5th with a price target of  $1 in 2 months time (I also said I wouldnt be suprised to see it at $1.50).




So it's my mistake then? ..... lets have a look

March 5th:


Speculator said:


> I can't see much resistance till around $1 and I would not be surprised to see GRR at $1.50 in under two months.




"Resistance" at $1- could mean "price target" ..... perhaps?

However, your $1- "for the record" did not refer to the 2 months, only $1.50 did. So your $1- resistance/target should be reached well under the 2 months time frame then! 

Your comment of the "$1.50 in under two months" provoked my response back then. Yesterday you brought it back up when the increase had only been 21cents to 65 cents. It's a bit shy of the $1.06 needed to bring the price up to $1.50      



> Looks like we may have misunderstood each other.




Huh..., I think not!
Keep on ramping...


----------



## tech/a (7 April 2010)

A bit peaved you didnt get on it MR.
While i dont have an opinion on S's analysis I certainly have my own.


----------



## MR. (7 April 2010)

tech/a said:


> A bit peaved you didnt get on it MR.




Good on ya tech!

Nah, just pointing out the ramping! 

......................................................................................


----------



## tech/a (7 April 2010)

MR. said:


> Good on ya tech!
> 
> Nah, just pointing out the ramping!
> 
> ......................................................................................




Yeh well the Forward "Analysis" is dubious at best.
Carry------------------------------------------on.


----------



## vine (14 April 2010)

Another bit of a run on GRR this morning up 8%, still trending up. You may get there yet Speculator still got a couple of weeks


----------



## MR. (14 April 2010)

Relentless, up and up she goes. 
LOL $1.50 here she comes...... .......................................


----------



## Speculator (16 April 2010)

That peak of 15% jump on the 14th was a result of day traders making love to our GRR (was looking at the HC forums and found it was a favourite for the day).

I didnt think GRR was up for a big week this week.

Looks like well see some healthy consolidation for now and then hopefully (and likely imo) we get an excellent ann toward the end of month that gives us another boost past previous high.

Still undervaled imo, DYOR.


----------



## Speculator (29 April 2010)

Whole materials space seeing some serious profit taking in the face of this greece bull****.

ASX pure play material co's seem to be taking the worst damage, at one stage today GRR hit -15%. the sp was in a state of flux for about 20mins.

Congrats to those who kept there nerve and didn't sell on the way down or even better had the foresight to sell yesterday.

Looks like we have found support at $0.60, although any more BS from global markets and GRR may loose that next 5% quick smart.

Not what I was hoping for, even with a strong ann now immediate upside seems limited.

Still a fav stock of mine and will add to my position (in comparitively small parcels) at these prices over the next couple of weeks.

Spec.


----------



## skc (30 July 2010)

*Grange Resources*

Can't seem to find a thread for this. So I will start one with a chart.

Looks like a decent break out on good volume, after 3 months of consolidation forming a prominent triangle.


----------



## Buckfont (30 July 2010)

*Re: Grange Resources*

skc try this,

https://www.aussiestockforums.com/forums/search.php?searchid=2721331.

I have held grange for a couple of years and has been very good. I too look forward to further breakout to the up


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## Ozymandias (30 July 2010)

I find it amusing that on the day the quartlerly is released, with all it's fundemental information, someone posts a technicals chart. 

I'm a very pleased holder, and I think there is alot of upside here.

The only worrying factor for me is that price negotiations with Shagang and the like have been ongoing for a long, long time now, and while they've secured a good interm price, there hasn't been a solid long term agreement on how price will be determined for the future.


----------



## liberdee (7 October 2010)

GRR has performed quite well of late, closing at $0.67 today. The last time it was at this price was almost 6 months ago (28/4/10). Does anyone have any idea as to why it's picking up or is it just that the economic climate is improving in general?

I'm really very new to understanding the market, so thanks for any insights people may have.


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## Ozymandias (7 October 2010)

Recent triggers positive triggers might be:

-talk that the BHP / RIO alliance in the Pilbara will fall through
-talk that magnetite will be excluded from any mining tax, or if it is included, it will be taxed at the first saleable point

Both somewhat speculative points though.


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## olleydog (10 December 2010)

What is going on with GRR? A few poor weeks... The fundamentals are too good for this sp weakness. I cant for the life of me see how some of the other iron ore players who are yet to produce a single tonne have a higher sp. As a producer, grange has taken full advantage of the big price jump in iron ore this year. I think GRR is still well short of fair value... any thoughts???


----------



## MiFFy (16 February 2011)

This thread has been a bit quiet. 

Grange continues to achieve an excellent result in the market and is looking set to continue to grow now that it is valued at over 1 Billion dollars.

Volume and daily trades are much better over the past quarter compared with what we have seen in the past two years.

Just an FYI for other investors here, in the latest Grange report I found the below statement:

_"Unit costs per tonne of pellets will increase in 2011, as a result of lower pellet tonnes produced, longer haul distances to the alternate ore supplies and the need to start re-building the 789 fleet that was purchased in 2008."_

No details on this statement were provided so I took the liberty of emailing grange investor relations with the below question;

_Current unit costs per tonne are listed at $91.37 per tonne of pellets produced, do you have an estimate on the percentage increase we may be likely to see around this metric? And can you offer any comments on the stability of the current negotiated contract price for the pellets?_

I then received an email back from Managing Director Russell Clark, which was pleasing that he would take the time to respond, and he informed me of the below information;

_I expect to see the cost of pellets at around $100 per tonne in 2011. We are still seeing a great margin as the current spot price for Pellets is around $190-$200 per tonne – which would give us revenue of around $400m on costs of approximately $230m.

The current sales contracts have an interim price of $150 per tonne and this will be retrospectively adjusted  when we finalise negotiations in February (again, the current price is around $190 per tonne). The negotiations are going well and I see no issues in finalising them – it just takes time._

I am not sure if any of this information is publicly listed, so I thought I would provide it on here. 

Once again the outlook is looking promising for Grange and I moved to 100% investment in Grange at around .26c. I am only now starting to look for other stocks. My ultimate target for GRR is $2.50 and I hope to see this by the end of 2012/early 2013 on good development of Southdown.

Please be aware, these are my own opinions, do your own research


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## Ozymandias (17 February 2011)

Thanks for sharing your correspondence with us Miffy. Nothing earthshaking there, but finalizing the pricing in February is more specific. Still they've been saying the pricing would be nailed down every quarter for ages now, so I'll believe it when I see it.


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## Ozymandias (15 March 2011)

Pretty big hit today.

I spotted this bit of news from MetalBulletin.com (http://www.metalbulletin.com/Articl...reference-for-pellet-contracts-md-says.html):

_Iron ore pellet producer Grange Resources is using index prices for iron ore fines as a reference for its steel-customer pellet contracts, md Russell Clark told MB.

The miner, which produces around 2.1 million tpy of pellet from its Savage River operation in northwest Tasmania, has two offtake deals in place.

One deal is for 1.3 million tpy with its biggest shareholder Shagang and the other is with Australian steelmaker Bluescope Steel for 800,000 tpy of blast furnace feed pellets.

Since the breakdown of the annual benchmark system, the miner has been receiving $150 per tonne fob from its two customers. This was an interim agreement on the basis that Grange would evaluate market intelligence in order to accurately price material, Clark said.

In this period of time the miner has been able to calculate a more appropriate formula that takes into account freight differentials, iron content as well as Vale’s pellet pricing.

“As a rule of thumb, we add around $50 per tonne premium on top of the 62% Fe cfr China [fines] price to get an fob [pellet] price,” he explained.

The miner now uses the monthly average of one of the 62% Fe indices and adds this premium on a monthly basis, he said.

And Grange is to receive a retrospective payment from its two offtakers now it has devised this method.

“1.3 million tonnes of material will be retrospectively priced,” Clark said.

This will be priced at around $180-210 per tonne fob for the period, he estimated._

By the above, the pricing mechanism has been finalized. Why this hasn't been formally announced to the market I don't know.


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## oldblue (10 June 2011)

The Southdown project DFS has been approved by Grange and its partner, Sojitz.

If that doesn't move the SP I think I'll quit them!


----------



## Wysiwyg (10 June 2011)

That DFS is due to be finished in first quarter 2012 and then construction, so price might be slow to move up. Producing high grade magnetite for less than $60/ tonne might be severely affected with a carbon tax according to this article from June 1 2011.



> THERE was precious little comfort for WA's emerging magnetite iron ore producers from Ross Garnaut in yesterday’s carbon policy update.
> 
> The sector has projects in the pipeline worth more than $10 billion in exports, according to industry figures, and says it is likely to be one of the most affected sectors if it doesn’t win concessions under the proposed carbon tax and trading legislation.
> 
> Unlike the large Pilbara mines, which ship high-grade hematite iron ore with a minimum of local processing, magnetite miners need to process their product from around 30 per cent iron up to 60-70 per cent iron before selling it on to smelters.




Perth Now.


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## Mizer (4 August 2011)

http://www.theaustralian.com.au/business/news/grange-resources-to-take-10m-hit-from-carbon-tax/story-e6frg906-1226106987154

Grange managing director Russell Clark told the Diggers & Dealers conference in Kalgoorlie yesterday that the sector should be excluded from the carbon tax because it was an energy-intensive, trade-exposed industry.

Grange has forecast total costs next year of about $200m, meaning the carbon tax and reduction in the diesel rebate will represent a 5 per cent hit on Grange's Savage River magnetite mine in Tasmania.

The company's planned Southdown mine near Albany in Western Australia, which is predicted to come into production by 2014, was not included in the calculations but is also likely to be hit by a price on carbon.

Mr Clark said Grange would be unfairly penalised under the planned carbon tax from July next year because it would process the magnetite in Australia rather than offshore where no similar tax was imposed.

Magnetite has a lower iron content than traditional hematite ores and must be processed before it can be sold to steelmakers.

"We will get canned in Australia because we do the value-add here," Mr Clark said.

Mr Clark said Grange, through its membership of the MagNet alliance of magnetite companies, continued to lobby the government, but it was unclear whether the sector would be excluded from the carbon tax.

"I just get this sense that it's about the mining industry's ability to pay," he said after his presentation to the conference.

Grange's complaints about the fresh imposts came as miners again lined up at the conference to criticise the Gillard government's carbon and mining taxes that will hit many resources projects.

Gary Halverson, regional president of Barrick Gold, said the carbon tax was likely to have a $US12 an ounce impact on the world's largest goldminer.

"It is not insignificant but it is manageable," he said.

Association of Mining and Exploration Companies chief executive Simon Bennison said it was clear from feedback at Diggers & Dealers that the industry was still opposed to the proposed mining and carbon taxes.

"Whatever way you look at it, the minerals exploration and mining sector will be faced with extra costs in doing business as a result of both taxes," he said.

Mr Bennison said there was rising anger among junior miners over the decision to reduce the off-road diesel fuel rebate by 6c a litre.

He said it would hit small mining companies in remote areas, and could cost hundreds of thousands of dollars a year.

"These companies will be seriously discriminated against as a result," Mr Bennison said.


----------



## Trembling Hand (7 January 2013)

Interesting run on. Was playing around last week with some scans, this popped up. Looking for a entry,


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## skc (7 January 2013)

Trembling Hand said:


> Interesting run on. Was playing around last week with some scans, this popped up. Looking for a entry,




Did you make a new year resolution to trade equities?!

Or someone hacked your account?


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## Trembling Hand (7 January 2013)

skc said:


> Did you make a new year resolution to trade equities?!
> 
> Or someone hacked your account?




Yeah decided that I have to waste my time. Futs are far too efficient form of trading.... :

And i have decided to increase my philanthropic efforts to spread the wealth.....


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## Trembling Hand (11 January 2013)

in @ 0.355, stop @0.32


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## prawn_86 (11 January 2013)

skc said:


> Did you make a new year resolution to trade equities?!
> 
> Or someone hacked your account?




haha maybe TH is looking to muscle in on your turf SKC


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## tinhat (11 January 2013)

Trembling Hand said:


> in @ 0.355, stop @0.32




Been on my watch list for about a year now. Getting close to meeting my buy signal but not yet.


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## leyy (11 January 2013)

join the party guys.

GRR still has alot further to go.

Iron ore pellets have been at an all time high, southdown project has been iced for now (which is good)

cash costs should reduce now since the rock slide.

Quarterly report should come out next week.

Increased Iron prices and decreased cash costs will make GRR go much higher, no debt, 200m cash on hand.

IMO GRR will over 50 cents by end of Feb, if Iron ore prices hold.

I've already had a good run with GRR, but continue to hold as it is still undervalued and has more to go.


good luck to all holders.


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## Trembling Hand (11 January 2013)

Oh is that what they do......


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## skc (11 January 2013)

Trembling Hand said:


> Oh is that what they do......




GRR is well positioned as a laggard playing catch up in the great iron ore revival. GBG is another one but GRR is preferred as they are actually profitable at the current iron ore price. The only problem is whether the iron ore revival is sustainable.

I had my eye on this them when they were 26c a few weeks back. It moved without me so I am pi$$ed off and will probably not buy it as I continue to sulk over it forever.


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## notting (11 January 2013)

Trembling Hand said:


> in @ 0.355, stop @0.32




I'll buy your stop


----------



## Trembling Hand (18 January 2013)

I believe thats my stop.....






Never looked that good from 30 min after my entry. What looked like a reasonable bar reversed on the close and we never really got going again.....


----------



## tech/a (18 January 2013)

notting said:


> I'll buy your stop




Ill bet he doesnt buy yours.
Ill bet you dont take yours.


----------



## notting (18 January 2013)

How much?


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## Smurf1976 (25 April 2013)

Well it's now down to 17 cents and came to my attention recently on the basis of yield. 

Also, the company and its' operations were the subject of a recent one hour prime time TV documentary on Southern Cross TV (although I think this may have aired only in Tasmania?).

That's about all I know about them, apart from having seen their physical operations from the outside and noting that the share price is the lowest it has been for at least a decade and still going down.


----------



## tinhat (2 May 2013)

GRR is getting smashed today. Down 10% and currently at 0.135. Huge volume 5.7m traded so far.


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## prawn_86 (2 May 2013)

Interesting. Currently yielding nearly 15% but still in a vicious downtrend. Will they maintain the dividend into the future...


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## tinhat (2 May 2013)

prawn_86 said:


> Interesting. Currently yielding nearly 15% but still in a vicious downtrend. Will they maintain the dividend into the future...




Gosh no. EPS are forecast to continue to tumble. Thompson Reuters consensus forecast is for div to half to 1c per annum. Only five analysts following though. I wouldn't be surprised if it got a relief bounce of today's low of .013 though.


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## jbocker (17 October 2013)

Encouraging quarterly report released today after their difficult Tasmanian climate season. If continues to pay 2c dividend per year would be nice 10% return.


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## jbocker (7 November 2013)

It had jumped yesterday, and today appears to be a lot interest lining up for the open. No Announcement though.


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## oldblue (7 November 2013)

jbocker said:


> It had jumped yesterday, and today appears to be a lot interest lining up for the open. No Announcement though.




The Australian had a bullish headline about the iron ore miners today. Subscription only, so I couldn't access the article but someone may be able to prÃ©cis the gist of it.

:1zhelp:


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## jbocker (3 March 2014)

Good report card. This company appears to have got business in very reasonable shape. Done mine redevelopment still maintained its cash balance, has nearly $160M in the bank, very little debt. Increased its resource figures. Has committed to a dividend and a bonus dividend. Loving it.


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## jbocker (1 March 2015)

Since my last post I had bailed out of this company with some profit. Kept an eye on it as it drifted down to 10c. Just got back in at 9.7c over the last week, because I thought they would honour their promise to keep paying dividends. Announced a 1c dividend. I'm glad they stuck to their word. Still have a good cash position.


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## The Triangle (2 July 2016)

Well, not much has changed.  9 cent shares, cash is higher then the market cap and they appear to be well on their way to a solid operating cashflow this year.  My concern is the potential for capex to exceed operating cashflow.  I just have no idea at the moment.   Iron is unloved and GRR is off the radar.  Maybe because many people are xenophobes and don't like foreign control?

About 600 kt per quarter of iron pellet
Prices between 80 and 90 AUD/t 
C1 mining costs of about 65/t
~$120 m in the bank gaining interest.

That gives them 30 to 50 million to cover capex and admin costs.  So, i doubt we'll see a dividend this half, but if they can get all other costs below 20 million a year then I think they could give out a 1cps divi or half cent per half come next reporting period.


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## systematic (1 September 2018)

This is my pick for the monthly comp in September.

Has just put out a half year report with results up from previous.  Price has reacted positively, up 15% since results released.

More interesting for me is that this company has appeared over the years in various screens I've looked at.  It's been a value play, a momentum play, a cheap stock rising, a quality play...and even an NCAV play at one point.  It's one of my 5 in the annual comp as well.  I also own this one, so here's to a good month ahead!


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## lewisjoshua (6 December 2019)

I think its time to look at Grange resources again. Its trading lower than net tangible assets.*

Profit drivers: *

-          Magnetite gets a higher price in the market against Direct Shipping ore(DSO) but does cost more to process. Mining magnetite is a high volume business but it is more environmentally friendly. As a result there is a demand from China for the material.



-          Owns a majority stake in the southdown magnetite project; joint venture between Grange resources(70%), and SRTA(30%). SRTA in turn is owned by Sojitz Corporation and Kobe Steel. Capability to export 10 million tonnes of premium magnetite concentrate.



-          Agreement in place for the sale of 1 million dry metric tonnes of iron ore pellets per annum till 2022 to Jiangsu Shagang Group (The price is determined by benchmarks for iron ore). The group also owns 46.68% of the company.



*Comments: *

-          Purest forms of iron ore: Magnetite – Haematite – Limonite – Siderite. 



-          The company also holds a 51% stake in a real estate venture(yes, you read right!) called  ROC property. There are 3 projects in the pipeline which are targeting the luxury market. Each development only has about 5-8 units.



-          Cash per share of $0.17(including debt).



-          The premium in price is delivered through 2 fronts; additional iron content and quality premium.



-          Book value/share of $0.41 and working capital of $0.21 along with net current assets of $0.16 a share


----------



## sptrawler (6 December 2019)

lewisjoshua said:


> I think its time to look at Grange resources again. Its trading lower than net tangible assets.
> *
> Profit drivers: *
> 
> ...



I don't think the current trade war is helping their position.


----------



## lewisjoshua (6 December 2019)

sptrawler said:


> I don't think the current trade war is helping their position.




The trade war doesn’t really affect them , the production was actually up last year . As discussed about 1 million tonnes of ore is pre sold till 2022.


----------



## greggles (26 February 2021)

Grange Resources taking off this morning after announcing its FY 2020 financial results. Currently up 14.8% to 50.5c.






$204 million net profit in 2020 and a market cap of around $500 million.

Seems to be some real value here at current prices, or am I missing something?


----------



## qldfrog (26 February 2021)

greggles said:


> Grange Resources taking off this morning after announcing its FY 2020 financial results. Currently up 14.8% to 50.5c.
> 
> View attachment 120631
> 
> ...



Systems heavy on it, and good news so far even today


----------



## Erlang (27 April 2021)

Based on this AFR piece, Grange Resources (ASX: GRR) seems to be benefiting from China's planned reductions on the steel industry, as Grange mines the iron ore and produces iron pellets in Tasmania, removing a step for Chinese steel makers..









						China emissions cuts stoke record premiums for quality iron ore
					

All types of iron ore are fetching bumper prices, but the boom is proving sweetest for those selling lump and pellets as quality premiums surge.




					www.afr.com
				




The GRR's price has been going well since late last year.


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## mullokintyre (11 June 2021)

Erlang said:


> Based on this AFR piece, Grange Resources (ASX: GRR) seems to be benefiting from China's planned reductions on the steel industry, as Grange mines the iron ore and produces iron pellets in Tasmania, removing a step for Chinese steel makers..
> 
> 
> 
> ...



GRR is selling at a PE of 3, with forecast of next years p/e virtually the same. Its paying in excess of 5% dividends fully franked.
And it has no debt.
Looks like a nice place park some cash.


----------



## mullokintyre (7 July 2021)

52 week high reached for last couple of sessions.
Sold half, as a 30% profit in a  few weeks is too good to pass up.
Mick


----------



## Erlang (8 July 2021)

mullokintyre said:


> 52 week high reached for last couple of sessions.
> Sold half, as a 30% profit in a  few weeks is too good to pass up.
> Mick



It definitely tempting to lock in those profits, particularly given the volatility of iron prices. But I think I'll wait to reduce the pinch from the taxing on the capital gains.

Warning maths below:


> I played with some equations a while back.
> 
> Compound annual growth rate (CAGR) is:
> 
> ...



Still. 30% profit in a few weeks is very good. And who knows where the iron prices will go.


----------



## mullokintyre (8 July 2021)

I have generally put TAX  considerations in last place when evaluating.
Firstly, I am in pension phase in my SMSF, and secondly, nothing would give me greater than paying a million bucks a year in tax. To get that sort of bill, I am making serious money!. And I still get to keep most of the gains!
Mick


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## Erlang (9 July 2021)

Fair enough then. Taxes become less of a burden with a SMSF -- something I have to look into next year. It's either that or move to NZ where they have no taxes on capital gains.


----------



## Erlang (9 July 2021)

Going back to Grange Resources, I saw this today:

https://www.theadvocate.com.au/story/7332153/grange-resources-boss-in-shares-splurge/


----------



## Porper (9 July 2021)

Erlang said:


> Fair enough then. Taxes become less of a burden with a SMSF -- something I have to look into next year. It's either that or move to NZ where they have no taxes on capital gains.



That's not quite true.

 If you are deemed a trader you must pay tax on profits. If you can prove you are an investor then no tax to pay. Grey area of course.


----------



## Erlang (9 July 2021)

Porper said:


> That's not quite true.
> 
> If you are deemed a trader you must pay tax on profits. If you can prove you are an investor then no tax to pay. Grey area of course.



You mean in NZ you pay no tax on profits if you can prove you're an investor? Interesting. Thank you.


----------



## Porper (9 July 2021)

Erlang said:


> You mean in NZ you pay no tax on profits if you can prove you're an investor? Interesting. Thank you.



Yep, that's correct.


----------



## mullokintyre (12 July 2021)

Porper said:


> That's not quite true.
> 
> If you are deemed a trader you must pay tax on profits. If you can prove you are an investor then no tax to pay. Grey area of course.



I have been trying to research this one.
I have been searching the ATO website for treatment of trading versus investing.
I had a chat with my accountant, and at first glance, she says she is not aware of any provisioning for the ATO to declare that an SMSF is  acting as a trader rather than an investor. She thinks that because I am using such a small  proportion of the funds for trading stocks, it would be difficult to argue that the fund is acting as a trader. Most of the funds are in  fixed interest, property and longer term held shares.
I am waiting for her definitive response.
Mick


----------



## Austwide (12 July 2021)

mullokintyre said:


> I have been trying to research this one.
> I have been searching the ATO website for treatment of trading versus investing.
> I had a chat with my accountant, and at first glance, she says she is not aware of any provisioning for the ATO to declare that an SMSF is  acting as a trader rather than an investor. She thinks that because I am using such a small  proportion of the funds for trading stocks, it would be difficult to argue that the fund is acting as a trader. Most of the funds are in  fixed interest, property and longer term held shares.
> I am waiting for her definitive response.
> Mick




This gives some idea of how ATO look at it





__





						Page not found | Australian Taxation Office
					






					www.ato.gov.au


----------



## rnr (12 July 2021)

mullokintyre said:


> > Porper said:
> > *That's not quite true.*
> >
> > If you are deemed a trader you must pay tax on profits. If you can prove you are an investor then no tax to pay. Grey area of course.
> ...




Hi Mick,

Just for the record @Porper was referring to New Zealand tax law in his post above.

Cheers, Rob


----------



## Smurf1976 (12 July 2021)

Erlang said:


> Grange mines the iron ore and produces iron pellets in Tasmania, removing a step for Chinese steel makers..



As a bit more info, they also have a very low cost means of getting the ore from the mine to the pelletising plant which is located on the coast with the ship loading just out the front.

No trucks or trains - they put the ore through a pipeline from the mine to the pellet plant.

So there’s practically no transport cost incurred in production other than trucks within the mine itself. Beyond that it’s pipeline > pelletising  plant > conveyor > ship.


----------



## sptrawler (12 July 2021)

Fro memory, they also had a tenement  North of Albany and were thinking of slurry pumping ore to Albany for export .








						Grange Resources
					

Austalia's most experienced magentite producer




					www.grangeresources.com.au
				



I'm not sure if the project has been offloaded or put on the backburner.


----------



## mullokintyre (12 July 2021)

rnr said:


> Hi Mick,
> 
> Just for the record @Porper was referring to New Zealand tax law in his post above.
> 
> Cheers, Rob



Aggh,  buggered it up again.
Mick


----------



## qldfrog (16 July 2021)

I find the thread quite quiet.
it is a star performer from my investment portfolio: bought at 55c a month ago currently up to 80c or 47% in the month
and people rave about fmg? if you play IO, go junior


----------



## Erlang (16 July 2021)

I bought GRR several months ago, and I can't believe my luck. I keep thinking it's going to come back down. But their P/E is still a reasonable number. 

I imagine that producing iron pellets instead of just iron ore is a major plus.

But if I wanted to be critical, GRR does just have one operating mine site in Tasmania -- they're co-developing another one in WA, but who knows when that will happen -- I believe. Also, isn't their main shareholder (a Chinese steel company) also their major customer?


----------



## Smurf1976 (16 July 2021)

Erlang said:


> But if I wanted to be critical, GRR does just have one operating mine site in Tasmania -- they're co-developing another one in WA, but who knows when that will happen



The other side of that is that if they go from one mine to two well that's 100% growth for the business if both mines are comparably sized.

Versus say BHP or Rio Tinto that would gain only a minor % increase if they were to add the same volume of production. 

Also I'm not sure if it's still a plan but some years ago they had the idea of buying additional ore (from whoever) and pelletizing it. There's 5 furnaces at the pellet plant but only 4 in use so subject to shipping costs it might be another growth opportunity.


----------



## mullokintyre (20 July 2021)

Pretty good quarterly out for GRR.
Tonnage up.
Costs down.
Received prices up.
Free cash and investments well up.
Still managed to open 4.5% down.
methinks its just a perfect opportunity to add some more.
One of the interesting things I read, was that a section of Berm reinforcing was done using remote controlled  equipment.
This is obviously the way of the future for all mining, especially where there is a higher level of potential danger to humans.
Next step will be to remove the human part on the remote control and just use AI.
Mick


----------



## Erlang (20 July 2021)

Well, now the market seems to also like the quarterly.


----------



## mullokintyre (20 July 2021)

Erlang said:


> Well, now the market seems to also like the quarterly.



Yeah, was a little slow in getting my order in and missed out on that early  slump.
From the opening low of 765 it hit an intraday high of 8725.
Would have been a nice scalp for the day.
Such is life.
Mick


----------



## qldfrog (20 July 2021)

mullokintyre said:


> Yeah, was a little slow in getting my order in and missed out on that early  slump.
> From the opening low of 765 it hit an intraday high of 8725.
> Would have been a nice scalp for the day.
> Such is life.
> Mick



Sadly, my system was out at 80c...but my investment packet made me very happy with the rebound👍


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## divs4ever (20 July 2021)

Smurf1976 said:


> The other side of that is that if they go from one mine to two well that's 100% growth for the business if both mines are comparably sized.
> 
> Versus say BHP or Rio Tinto that would gain only a minor % increase if they were to add the same volume of production.
> 
> Also I'm not sure if it's still a plan but some years ago they had the idea of buying additional ore (from whoever) and pelletizing it. There's 5 furnaces at the pellet plant but only 4 in use so subject to shipping costs it might be another growth opportunity.



 GRR  have another undeveloped project ( in South Australia in my memory is correct ) but are searching for a JV partner ( is it 5 years they have been looking ) , that is one reason they are stock-piling so much cash 

 the pellets were the preferred  feed-stock of their major customer ( and former majority share-holder ) all very quirky but profitable along the way   

 i hold GRR  ( bought between August 2012 and September 2014  from 39 cents down to 11.5 cents  )

 i primarily bought GRR and now delisted TMM   as a hedge to avoid iron-ore disruptions the WA players faced during cyclone season 

 cheers 

i hope this helps understanding a little bit about the company 

 DYOR


----------



## divs4ever (20 July 2021)

Erlang said:


> I bought GRR several months ago, and I can't believe my luck. I keep thinking it's going to come back down. But their P/E is still a reasonable number.
> 
> I imagine that producing iron pellets instead of just iron ore is a major plus.
> 
> But if I wanted to be critical, GRR does just have one operating mine site in Tasmania -- they're co-developing another one in WA, but who knows when that will happen -- I believe. Also, isn't their main shareholder (a Chinese steel company) also their major customer?



 the official major shareholder has changed since i bought in  , but that might mean the gentleman has retired from the board   and put at least part of the holding in a trust . , did they get a partner  ?? .. but yes in 2012 the majority holder was a Chinese Steel Company   and sharing a director as you would if you own over half the company 

 i was looking for that in the quarterly  , as a guide whether  i should take out the investment cash  ( and let the profits run ) ,  or leave the holding at full cash risk


----------



## Erlang (26 July 2021)

divs4ever said:


> GRR  have another undeveloped project ( in South Australia in my memory is correct ) but are searching for a JV partner ( is it 5 years they have been looking ) , that is one reason they are stock-piling so much cash
> 
> the pellets were the preferred  feed-stock of their major customer ( and former majority share-holder ) all very quirky but profitable along the way
> 
> ...




Thanks for that.

They have an undeveloped project in Western Australia (they own 70% of it), not South Australia. But I believe it's in the south, far from cyclones.

https://www.theadvocate.com.au/stor...rice-is-right-as-grange-resources-ponders-wa/


----------



## Erlang (26 July 2021)

This link suggests it's near Albany.

https://www.mindat.org/loc-267201.html



> The Southdown magnetite prospect in 90 kilometres north-east of Albany, and forms a 12 kilometre long linear east-west deposit, cut in half by the South Coast Highway. It is located on cleared agricultural land, and forms a low ridge, more prominent to the west. Magnetite outcrops in only a few places along the strike.
> 
> The deposit was discovered in 1983, by an airborne survey conducted by the Australian Bureau of Mineral Resources. Several companies explored the site during the 1980's. Tasmanian based Grange Resources acquired the site in November 2003. It conducted extensive drilling, feasibility studies, an


----------



## divs4ever (26 July 2021)

thank you for the correction

 cheers


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## Smurf1976 (27 July 2021)

Erlang said:


> This link suggests it's near Albany.



Being 1 hour's drive from an established town and with a highway running right to the mine site may have some advantages so far as costs are concerned. 

At least it's not middle of nowhere etc.


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## divs4ever (27 July 2021)

in an area  of less cyclone activity  , you would have thought would help attract  extra investment  , but it seems not so 

 maybe GRR  should test out Indian investment cash , and see if there are any nibbles there


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## mullokintyre (5 August 2021)

GRR  had a big fall from its highs of late July, down 20+%. Mr  market obviously see GRR being affected by the falls in raw iron ore prices and slow down from China.
Still an attractive dividend position,  will hold for at leat until that happens.
Mick


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## Dona Ferentes (5 August 2021)

Magnetite stocks fell over when the last boom fell over (2011) and I suspect they will this time. 

(_Only saying this because there were a lot of them, and they mainly disappeared/ were subsumed_) (to my detriment)


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## qldfrog (5 August 2021)

mullokintyre said:


> GRR  had a big fall from its highs of late July, down 20+%. Mr  market obviously see GRR being affected by the falls in raw iron ore prices and slow down from China.
> Still an attractive dividend position,  will hold for at leat until that happens.
> Mick



my SL trigered at -15% from highs and I am out....


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## Erlang (13 August 2021)

For those still in the game, according to this website, Grange's Southdown project in Western Australia will start later this year:



> Grange has scaled down its plans for Southdown to 5mn t/yr of high-grade magnetite from the 10mn t/yr project that was shelved in 2018 and prior to that in 2012. The firm expects to finish studies into the smaller project, which will produce magnetite concentrate to export to China and Japan, by the end of this year




https://www.argusmedia.com/en/news/2243072-grange-resumes-australias-southdown-magnetite-iron-ore

I am somewhat surprised. I hadn't read that it was starting so soon. And I am not familiar with this publication Argus. A reliable source?


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## divs4ever (13 August 2021)

i can't help on the reliability of Argus ( never heard of them before either )

 but awesome news if true

 i resisted reducing GRR  in the recent rally

 just keep in mind the extra mine will take a while to get into full production  , which MIGHT be good news for the patient

 DYOR

 but on the flipside GRR often slips under the radar of the media

 a quick look at the declared staff rings no bells ( warning  or otherwise )

 but always useful to have a second ( or third ) opinion source 

 cheers


----------



## divs4ever (13 August 2021)

the GRR Tasmania mine  sells a fair bit of pellets , so scored a tailwind from the Brazil tailings dam disaster 

 i didn't so a reference ( so far )  of pellets being created in the WA project


----------



## mullokintyre (19 August 2021)

GRR still falling, so I obviously got this badly wrong.
Market obviously sees the pellet business being severely curtailed, and I thought the specialised Pellet  business would sustain it.
Want to keep holding it, but the market has far deeper pockets than me.
So it will just have to go.
Mick


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## Erlang (22 August 2021)

Still early days. I'll wait until their results come out.

Besides, I can't really sell as I'll be hit with taxes on my capital gains.  If I wait a couple more months, my tax billed is halved.  That's a certainty.


----------



## Dona Ferentes (22 August 2021)

Erlang said:


> I can't really sell as I'll be hit with taxes on my capital gains.  If I wait a couple more months, my tax billed is halved.



whatever....  buy a lottery ticket.

It is a small producer around the edges. Iron ore price has fallen. So goes the hot money.



> ... _the price of iron ore will ultimately be determined by China. For reference, in Q2, fully 84 per cent of Australia’s iron ore exports were to China. Next was Japan at 6 per cent and South Korea at 5 per cent. .... iron ore price plunged nearly 15 per cent to $US130.2 a tonne and is down 45 per cent from the record high of $US237.57 it reached *just three months ago*._



and GRR ... lagging that peak, but not by much (enough to suggest it may fall further?)


----------



## qldfrog (22 August 2021)

Erlang said:


> Still early days. I'll wait until their results come out.
> 
> Besides, I can't really sell as I'll be hit with taxes on my capital gains.  If I wait a couple more months, my tax billed is halved.  That's a certainty.



FWIW your profit might half as well....not exactly a term deposit ...I never understood that reasoning, all good when shares keep going higher and higher but if they fall???


----------



## qldfrog (22 August 2021)

qldfrog said:


> FWIW your profit might half as well....not exactly a term deposit ...I never understood that reasoning, all good when shares keep going higher and higher but if they fall???



let's take some figures: purchase 10000 @ 24c in november for 2.4k, reached 90c last month: profit $6.6k taxed at 50% -> 3.3k in your pocket;
if you wait 1 y and discounted capital gain:25% tax instead; you get that 3.3k for a SP of 68c (4.4k profit -25% tax)

so any GRR below 68c and you would have been better off selling while paying fullcap gain tax;
 last SP: 63c..you should have sold already..obviously one does not know the peak but not exactly looking good so the longer you wait the worse it might get..and this assumes you got the shares at 24c  a low in the last year or so, and an actual tax rate of 50%

CQFD


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## divs4ever (22 August 2021)

when they fall i decide IF to buy more

 i was buying GRR as low as 11.5c in 2014

 mine owe me 20.3 cents a share ( average )


GRRGRANGE RESOURCES. ORDINARY
Change








Balance DateDividend TypeCents per shareCcyFranked %Ex-Dividend DateBooks Close DatePay Date31/12/2020Final2.000AUD100.0012/03/202115/03/202130/03/202130/06/2020Interim1.000AUD100.0011/09/202014/09/202030/09/202031/12/2019Final1.000AUD100.0013/03/202016/03/202030/03/202030/06/2019Interim1.000AUD100.0010/09/201911/09/201927/09/201931/12/2018Final1.000AUD100.0014/03/201915/03/201929/03/201930/06/2018Interim1.000AUD100.0011/09/201812/09/201826/09/201831/12/2017Final1.000AUD100.0013/03/201814/03/201828/03/201831/12/2016Final0.500AUD100.0014/03/201715/03/201729/03/201730/06/2016Interim0.500AUD100.0008/09/201609/09/201627/09/2016

 looking better than a term deposit to me , currently  ( even at 2 x 1 cent per year )


----------



## Erlang (22 August 2021)

qldfrog said:


> let's take some figures: purchase 10000 @ 24c in november for 2.4k, reached 90c last month: profit $6.6k taxed at 50% -> 3.3k in your pocket;
> if you wait 1 y and discounted capital gain:25% tax instead; you get that 3.3k for a SP of 68c (4.4k profit -25% tax)
> 
> so any GRR below 68c and you would have been better off selling while paying fullcap gain tax;
> ...



Absolutely. If I had known 90 cents was the peak, then yes. And my profit may halve too. But that wasn't and isn't certain. The only thing that's certain are the taxes. And I prefer not to have an unnecessarily high tax bill at the moment.

Also, I originally bought the GRR shares for their dividends.

Over the last few months I've given the "wait for half capital gains versus sell now with more profits" argument considerable thought. 
Using your parameters:


----------



## qldfrog (22 August 2021)

Erlang said:


> Absolutely. If I had known 90 cents was the peak, then yes. And my profit may halve too. But that wasn't and isn't certain. The only thing that's certain are the taxes. And I prefer not to have an unnecessarily high tax bill at the moment.
> 
> Also, I originally bought the GRR shares for their dividends.
> 
> ...



Indeed the only thing certain is tax,but the rate is not: will you have an unexpected winfall or loss changing your tax rate?, will a government change or a covid rebuilding effort remove the discount?
What is certain is now and past..even if some want to rewrite history.
Future is uncertain.
Do for the best in your specific case👍


----------



## divs4ever (25 August 2021)

Grange Resources announced FPO dividend of 2 cps for a period of six months ending on 30 June 2021, with the record date of 14 September 2021 and payment date of 30 September 2021. The Company's DRP will not apply to this dividend.

 some consolation to those that didn't sell near the peak 

  my av. SP is 20.3 cents , so this equates to a nearly 20% div. return in the last 12 months  , and that beats the stuffing out of your term deposit rates ( but check the franking , there is no mention of franking on this ann. )

 DYOR


----------



## divs4ever (25 August 2021)

Since the end of the half-year, the Board of Directors have recommended the payment of a fully franked dividend of 2.0 cents per share or $23.1 million. The interim dividend was declared NIL conduit foreign income and will be paid on 30 September 2021.

 OK so the franking is still a go 

 awesome


----------



## Erlang (25 August 2021)

Better than a term deposit.

From today's financial report:



> Grange achieved a statutory profit after tax of $205.3 million for the half year ended 30 June 2021 (2020: $65.6 million profit after tax) on revenues from mining operations of $449.6 million (2020: $231.0 million).
> 
> Sales for the half year ended 30 June 2021 totalled 1,270,005 tonnes of high quality, low impurity iron ore products compared to 1,239,771 tonnes for the preceding 2020 half year.
> 
> ...


----------



## qldfrog (25 August 2021)

ok, can not resist so apologies in advance @Erlang  and @divs4ever    :
Not very charitable; but selling at 90c instead of 64c today would have save you the equivalent of 13 years of dividends in less than a month...so clearly, or at least to me, shares like GRR  are NOT to be used for dividends returns....


----------



## Erlang (25 August 2021)

True. But that's after the fact. I certainly had no idea that the GRR price would shoot up by a factor of three in several months. So I bought them for the dividends, not thinking they were a long-term *growth* investment -- for that I have other shares that don't rely upon a single operating mine.

And perhaps I should have sold them when they peaked at 90 cents, but I don't have a crystal ball.


----------



## qldfrog (25 August 2021)

Erlang said:


> True. But that's after the fact. I certainly had no idea that the GRR price would shoot up by a factor of three in several months. So I bought them for the dividends, not thinking they were a long-term *growth* investment -- for that I have other shares that don't rely upon a single operating mine.
> 
> And perhaps I should have sold them when they peaked at 90 cents, but I don't have a crystal ball.



But now you know...


----------



## divs4ever (25 August 2021)

qldfrog said:


> ok, can not resist so apologies in advance @Erlang  and @divs4ever    :
> Not very charitable; but selling at 90c instead of 64c today would have save you the equivalent of 13 years of dividends in less than a month...so clearly, or at least to me, shares like GRR  are NOT to be used for dividends returns....



 this is still a forum differing views are acceptable  here 

 i have some excess cash already and am struggling for sensible places to invest it  ( too old to build up a farm or renovate a house  )

 so am quite happy to have a few thou. in GRR  , paying me 2c a year ( plus franking ) for a steady splash of income  , i DON'T  expect the current 4 cents per year to last  they still have new mining projects to develop  so expect Capex into those to help drain the piggy bank 

 i DID briefly consider selling down ( but not out of ) GRR  around that 90 cent mark ( and NORMALLY i would have reduced closer to the 50c mark ) but for whatever reason ( like where the hell do i park THAT cash ) i didn't 

 assuming the SKI , YFZ , HSN and ONT  takeovers succeed  ( and assume the API will not proceed ) i will be looking at an uncomfortable pile of cash coming already 

 but heck , if you are younger and looking to say buy a house , or a tertiary degree , or a business maybe you have better options ( for you ) than holding GRR for another 10 years


----------



## mullokintyre (26 August 2021)

Like  QLDfrog, I sold mine , but waited too long and did not get the price that the Northern Amphibian did.
I fully expect to buy back in at a significantly cheaper price once the EX div date has passed.
I am also confidant that  the difference between my sell price and buy price will be at least 15%.
So I will be more than happy if that occurs.
Mick


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## divs4ever (10 December 2021)

The Board of Grange Resources Limited (“Grange” or “the Company”) is pleased to advise that a special
dividend of $0.10 fully franked has been declared.
The Company has performed strongly in 2021 and for the 2021 calendar year dividends of $0.04 have
already been paid ($0.02 final dividend (see announcement dated 26 February 2021) & $0.02 interim
dividend (see announcement dated 25 August 2021)). The Board has assessed the capital
requirements of the Company and resolved to issue a $0.10 special dividend to be paid on 29
December 2021. This will result in $0.14 being paid in dividends during 2021.
Key dates include:
Ex-dividend date 15 December 2021
Record Date 16 December 2021
Payment Date 29 December 2021
This announcement was authorised by the Board

=================================================================================

 DYOR

i hold GRR  ( since August 2012  av. SP 20.3 cents )

i was hoping they would use that cash pile  to  fund the project under development 

 is there something else in the wind ??  ( looks like a defensive move to me )


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## divs4ever (10 December 2021)

now to the few that follow my strategies  , they would know that NORMALLY   at around  140%  profit  i would start thinking  about a rescue of my investment cash 

 GRR  is one of the very few ( less than 10 of the over 200 shares i hold )  i have resisted reducing even when it touched 90 cents a share 

 time will tell if i am correct  ( i really thought they would stock-pile cash  , for the upcoming project )

 take care


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## Erlang (10 December 2021)

That 10-cent special dividend changed the maths a bit.

@divs4ever I am also surprised (and slightly concerned) that GRR didn't use their cash to fund that WA project. What's going on?

And I had just read a few days earlier that perhaps much of Australia's  iron ore (that is, hematite) might not be so appealing in a carbon-neutral future. It's easier, supposedly, to produce carbon-neutral iron from ores like magnetite, which is of course what GRR mines in Tasmania and maybe in WA in the future.


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## divs4ever (10 December 2021)

GRRGRANGE RESOURCES. ORDINARY
Change







Balance DateDividend TypeCents per shareCcyFranked %Ex-Dividend DateBooks Close DatePay Date30/06/2021Interim2.000AUD100.0013/09/202114/09/202130/09/202131/12/2020Final2.000AUD100.0012/03/202115/03/202130/03/202130/06/2020Interim1.000AUD100.0011/09/202014/09/202030/09/202031/12/2019Final1.000AUD100.0013/03/202016/03/202030/03/202030/06/2019Interim1.000AUD100.0010/09/201911/09/201927/09/201931/12/2018Final1.000AUD100.0014/03/201915/03/201929/03/201930/06/2018Interim1.000AUD100.0011/09/201812/09/201826/09/201831/12/2017Final1.000AUD100.0013/03/201814/03/201828/03/201831/12/2016Final0.500AUD100.0014/03/201715/03/201729/03/201730/06/2016Interim0.500AUD100.0008/09/201609/09/201627/09/2016

 with that  10c special div.  coming  , it is probably a good thing  i got my investment cash back ( plus franking  ) then 

  it should happen  the iron ore will still have some buyers   several nations are happy to have feed-stock over 40% , but maybe the primary customers will be India and Vietnam  in the future ( and arguably lower prices )


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## Erlang (10 December 2021)




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## divs4ever (10 December 2021)

yes buying them  years back   and averaging down in  the dip  was the winning strategy here ( but it isn't always )

the Brazil dams failures  proved to be a windfall for GRR , but maybe these tailwinds cannot last 

 the first parcel was bought @ 39c ( in 2012 ) and the last ( in 2014 ) @ 11.5c  .. so it wasn't all smooth sailing


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## Dona Ferentes (27 December 2021)

GRR has gone from 30c to 71c in 2021, and paid a high yielding brace of dividends.

Market Cap: $769.63 million
2021 % Change: 123.33%

_Some commentary:_
Grange Resources has operated the Savage River iron ore mine in Tasmania for more than 50 years. Without a doubt 2021 was the best of the lot.

Savage River produces processed magnetite pellets grading well above even the premium 65% index that the Vale high grade Caracas ores receive from Chinese steelmakers.

When iron ore prices hit all time records of US$237/t in May, Grange and its largely Chinese major shareholders were laughing all the way to the bank. Grange received average prices of US$228.52/t for the March quarter ($297.66/t Australian), more than double its $113/t cost base.

The June quarter was even more absurd, as Grange sold 653,000t of pellets at US$287.15/t ($373.72/t) against falling operating costs of $90.16/t.  That meant Grange made a headline margin of US$207.63 on every tonne shipped, _more than the average price of the benchmark 62% fines index in the three months to June 30_.

The other benefit of Grange and its Savage River mine is its future proofed nature. High grade iron ore like Granges will be required to supply modern steelmaking technologies that eschew coking coal for green fuels like hydrogen.

Those massive premiums shielded Grange from the iron ore price’s rapid decline through the second half of the year, helping it bank $554.60 million in cash and trade receivables of $21.45m as of September 30.

That healthy cash position led to not one but two dividend announcements this year, a 2c payout on the annual results and a sneaky*10c a share special divvie*announced just before Christmas.


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## divs4ever (27 December 2021)

those 'zeros' are actually   2 x 0.5 cent divs. ( in  2016 )​​Per Share Statistics​As of 25 May 2021, 10:00 am AEST

TYPE2012201320142015201620162017201820192020TREND*Dividends ($)*0.040.020.030.010.000.000.010.020.020.03




*Franking (%)*----------100.00100.00100.00100.00100.00



*Dividend Yield (%)*----------7.104.7010.008.0010.20


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## Dona Ferentes (27 December 2021)




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## divs4ever (27 December 2021)

i suppose the BIG question  in GRR  is what is a good entry point  for new buyers  , i suspect 30 cents ( or less ) won't return quickly  , and the share has patchy liquidity  as a trading vehicle ( a nasty trap if trading on leverage )  , a small hobby trader ( able to wait months for an exit price ) might find it tempting 

 the OTHER question is when will the ( stalled ) Vale/BHP  joint venture start shipping pellets again  , and take some steam out of the market  , this share has had some very nice tailwinds in thee last few years  , but surely that cannot last  , and the company will have to do it's own heavy lighting 

 all that said  ... there could be  a nasty storm/cyclone season coming soon  that will limit  iron  shipments  from Western Australia  ( doesn't affect GRR as much because it has a major but steady  customer  , but still might lift the iron/pellet price  that extra whisker )

 one danger will be rising costs ( especially shipping costs )

 DYOR


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## Go Figure (2 January 2022)

My January 2022 and FY 2022 stock tip is GRR it continues to generate good results, it is a well run profitable company and appears likely to produce strong December Quarter 2021 results which likely will flow on through 2022 as the IO price finds its base.


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## divs4ever (28 February 2022)

is up 25 cents today

$0.990
Today's Change
Up $0.255 (34.69%)

might be something to do with declaring another div. last Friday

Dividend information
Amount per share (Cents) Franked Amount per share (Cents)
Final dividend per share (fully franked) 10.00 10.00
Ex-dividend date 11 March 2022
Record date 14 March 2022
Payment date 29 March 2022

nice but nothing special UNTIL you realize it paid a 10 cent div. only 3 months back

( i hold GRR av. SP 20.3 cents ) well that is one way too get a free-carry

DYOR


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## qldfrog (28 February 2022)

divs4ever said:


> is up 25 cents today
> 
> $0.990
> Today's Change
> ...



And i sold friday🥴


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## divs4ever (28 February 2022)

one of the few opportunities  to rescue the investment cash  , that i haven't taken over the years but HAVE thought about  it several times

 seems to be suddenly paying 3 monthly divs.  after sitting  on a mountain of cash for years  , hoping to develop that other project

 has been a quirky company to say the least

 so i am guessing you missed the results on Friday as well ( i only found them trying to work out why the price spiked )


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## Dona Ferentes (28 February 2022)

qldfrog said:


> And i sold friday🥴



and today's news:


> Japan’s Nippon Steel said at the weekend that _it is considering how it might need to adjust its supply lines, given 14 per cent of the* high-grade iron ore pellets* that Japan imports come from Ukraine._
> 
> Pellets are a small but high-quality part of the global iron ore trade, and Ukraine’s importance to this segment has risen in recent years after production from Brazil was hit by concerns about the safety of tailings dams in the country.





> A Nippon spokesman said _alternative sources for the raw materials in Brazil and Australia would be considered, and pellet prices – which always trade at a premium to iron ore prices – could push a little higher still._


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## Erlang (28 February 2022)

GRR seems to be the gift that keeps on giving for now. Has magnetite's day finally arrived in Australia?

Admittedly GRR released their results after the market closed on Friday, but I've noticed The AFR rarely mentions GRR, though it mentions plenty of other companies (which, in contrast, make little or no profits).


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## qldfrog (28 February 2022)

Dona Ferentes said:


> and today's news:



Yeap,rub it in DF!!!
Decision was made on internet access at time of asx open with time zone and the idea more of China minerals will now come straight from Russia,not from Australia or Brazil


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## divs4ever (1 March 2022)

gets a bit complicated to work out  now  but a Chinese company is a major holder of GRR 

 which makes one wonder  about the recent  capital returns 

  has the major holder convinced the company  the undeveloped project will be cost inefficient  ( or they are better off selling it  off  for say cash + a royalty ) they have been sitting on that cash pile for years


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## qldfrog (1 March 2022)

divs4ever said:


> gets a bit complicated to work out  now  but a Chinese company is a major holder of GRR
> 
> which makes one wonder  about the recent  capital returns
> 
> has the major holder convinced the company  the undeveloped project will be cost inefficient  ( or they are better off selling it  off  for say cash + a royalty ) they have been sitting on that cash pile for years



Yes actually a  potentially worrying good news for the long term...but in that case they might try to be bought back by a major?


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## Erlang (1 March 2022)

It's extremely difficult (I would argue mostly impossible) to guess the markets reactions to world events. 

I have set CommSec to email me when "market sensitive" company announcements are made. There are also phone apps that give similar notifications.

Having looked at previous GRR announcements, they typically release their end-of-year results in late February. 

Here's a speculation: At this rate, GRR may enter the ASX 300 or so -- I don't know what the cut-off is exactly. And then GRR may receive a boost from the effect of being included in index funds.


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## divs4ever (1 March 2022)

qldfrog said:


> Yes actually a potentially worrying good news for the long term...but in that case they might try to be bought back by a major?




 unless pressure is put on the major shareholder ( a Chinese gentleman , i believe )   i can't see that happening  ( but given  political rumblings rumblings not impossible )

  be pushed into the top 200 or 300  ( since they are measured  by market cap.  , not tangible assets ) that IS possible  partly because of take-overs but also   ,  and by other companies shrinking 

 it would be interesting to see the 'ease of doing business ' ranking  of Australia given the events of the last two years


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## divs4ever (22 March 2022)

Southdown Magnetite Project Prefeasibility Study
Southdown Project, Western Australia
• The Prefeasibility Study identifies a reduced-capital development option for the Southdown
Magnetite Project (anticipated to deliver reductions in capital spend from A$2.9B down to
A$1.39B).
• It focuses on a production rate of 5 million tonnes per annum of high-quality magnetite
concentrate at 69.5 % Fe, which attracts a significant price premium in the market.
• The concentrator design utilises dry grinding technology to improve efficiency and reduce power
and water demand, while still achieving a high-quality product.
• The reduced water demand can be met with a combination of ground water and recycled water.
• Early works are underway to confirm the potential of power supply via a transmission line to
connect to the Southwest Interconnected System at Muja, in order to access significant
renewable energy through a 3rd party provider.
• Studies indicate Cape size vessels can be loaded in King George Sound using transhipment
methods.
• Work is underway to seek revisions to current environmental approvals for the new aspects of
the project, with a new approval required for the transhipping operation.
Disclaimer
The material in this ASX release is not and does not constitute an offer, invitation or recommendation to subscribe for, or
purchase, any security in Grange Resources Limited (“GRR”) nor does it form the basis of any contract or commitment. GRR
makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this material. GRR,
its directors, employees, agents and consultants, shall have no liability, including liability to any person by reason of negligence
or negligent misstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained
in or derived from, or for any omissions from this material except liability under statute that cannot be excluded.
Statements contained in this material, particularly those regarding possible or assumed future performance, costs, dividends,
production levels or rates, prices, resources, reserves or potential growth of GRR or, industry growth or other trend projections
are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve
known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or
implied by these forward-looking statements depending on a variety of factors.
The Prefeasibility Study referred to in this ASX release has been undertaken for the purpose of initial evaluation of a potential
development option for the Southdown Magnetite Project in Western Australia. It is a preliminary technical and economic
study of the potential viability of the Southdown Project, completed to a level of accuracy of +/- 25%. Further work will be
required to improve the accuracy and reduce the technical, financial, environmental and stakeholder risks related to this
development option.
Registered Office: 34a Alexander Street, Burnie, Tasmania 7320 page 2 of 13
ASX RELEASE
Grange Resources Limited (ASX:GRR) (Grange) is pleased to announce that a Prefeasibility Study
(PFS 2022) has been completed to assess capital reduction options for the Southdown
Magnetite Project (Southdown or the Project).
A Definitive Feasibility Study completed in 2012 (DFS 2012, see ASX announcement May 2012)
defined a project to produce 10 million tonnes per annum (mtpa) of high-grade magnetite
concentrate at 69.5% iron, over a potential mine life of 14 years.
PFS 2022, completed in February 2022, has identified a reduced-capital development option.
This involves a smaller 5mtpa concentrate production operation within the constraints of
existing mineral resources and ore reserves; and is anticipated to deliver reductions in capital
spend from A$2.9B down to A$1.39B. This alternative case extends the life of mine from 14
years to 28 years for the western zone, and potentially more than 50 years for the total resource
(see Project Details below). It is planned to be a pit to port operation involving:
• an open cut mine with contract mining
• a concentrator including dry grinding and wet separation techniques
• slurry and return water pipelines from/to the Port at Albany
• a transhipping operation to export concentrate in Cape size vessels
• a transmission line for power supply by a 3rd party to access a significant component of
renewable energy
• a mix of recycled and groundwater to supply reduced water needs.
The 10mtpa DFS 2012 remains the base option, and the decision as to whether the alternative
option is further studied to definitive feasibility will be an issue considered together by the joint
venture partners.
Commenting on the results of PFS 2022, Grange CEO Mr Honglin Zhao stated:
“PFS 2022 considers innovation in the process to enable a reduction in the capital
required to enable the project to proceed.
Southdown is a world-class magnetite deposit that is becoming increasingly relevant as
steel markets continue to demand premium iron ore products. At almost 70% iron
content, Southdown’s concentrate product will be one of the highest-grade seaborne
iron ores in the world.”
Project Summary
• Southdown is an advanced project with excess of A$180m spent to date on drilling,
test work, land acquisition, permitting and engineering studies.
• The project has defined Mineral Resources of more than 1.2 billion tonnes at 33.7%
DTR, and Ore Reserves of 388 million tonnes at 35.6% DTR, prepared in accordance
with JORC 2012 (see ASX announcement February 2014).
Registered Office: 34a Alexander Street, Burnie, Tasmania 7320 page 3 of 13
ASX RELEASE
• DFS 2012 was completed in April 2012 based on a design to produce at a nominal rate
of 10mtpa of concentrate at a premium quality specification of 69.5% Fe, which
attracts a significant price premium in the market.
• PFS 2022 was completed in February 2022 based on a design to produce at a nominal
rate of 5mtpa of concentrate, with a mine life of 28 years within the current permitted
area, with potential to extend to more than 50 years.
• PFS 2022 generates an NPV of A$243 million at a nominal discount rate of 10%, and an
ungeared internal rate of return (IRR) of 12%, based on average price assumptions from
long term forecasts of US$102.52/tonne FOB Albany, at an AUD:USD exchange rate of
$0.71. By comparison, an NPV of A$2,071 would be achieved based on the average
realised 65% index prices over past three years.
• Initial capital expenditure is estimated at A$1.39 billion and sustaining capex at A$203
million.
• C1 operating costs are estimated at A$60.61 per tonne of concentrate delivered at the
ships rail in Albany, with an all-in sustaining cost of A$84.12.
• All primary environmental approvals are in place and being maintained in good stead
for the existing DFS 2012, with a revision of the existing land-side approval in
preparation to include the new aspects, and a new approval required for the marine
transhipment operations.
• All land required for the DFS 2012 project site, slurry and water pipelines has been
secured, with negotiations progressing to secure new areas identified in PFS 2022
• Aboriginal heritage issues have been successfully resolved or in progress for DFS 2012,
with engagement ongoing in relation to new areas and sites identified in PFS 2022.
Detailed Project Information for the 5mtpa Alternative Development Option
Just 90km from Albany in Western Australia's Great Southern region, Southdown is a joint
venture (JV) between Grange (70%) and SRT Australia Pty Ltd (30%). SRT is jointly owned by
the Sojitz Corporation, a Japanese global trading company, and Kobe Steel, the third largest
Japanese steel maker.
The Southdown Magnetite Project is an advanced project with more than 1.2 billion tonnes of
high-quality mineral resources, including ore reserves of 388Mt. A Definitive Feasibility Study
completed in 2012 (DFS 2012, see ASX announcement May 2012) defined a project to produce
10 million tonnes per annum (mtpa) of high-grade magnetite concentrate at 69.5% iron, over
a potential mine life of 14 years.
In February 2022 Grange completed a prefeasibility level study into an alternative
development option based on a reduction of the nominal concentrate production rate to
Registered Office: 34a Alexander Street, Burnie, Tasmania 7320 page 4 of 13
ASX RELEASE
5mtpa. DFS 2012 is the base case option for the JV.
Grange recognises and respect the Traditional Owners of this Country and their connection to
the lands, waters and skies. Grange would like to acknowledge the support and assistance of
the Wagyl Kaip and Southern Noongar Native Title claimants, and the Menang people in the
development to date of the Southdown Project.
Grange would like to thank and acknowledge that the following organisations were engaged
in the Grange’s development of the PFS 2022:
• Wood (principal and process), and its subconsultant GHD (non-process infrastructure),
• Ausenco (pipeline),
• BMT (marine),
• Snowden Optiro (mining)
• and many specialists in individual areas.
Location
The Project is located ~90km northeast of Albany in the southwest corner of Western
Australia. The Southdown deposit extends approximately 12km in length, under Mining
Lease (M70/1309) and Retention Licence (R70/61) covering an area of more than 120 square
kilometres on largely freehold farming property.
Figure 1: Southdown Magnetite Project Location
Registered Office: 34a Alexander Street, Burnie, Tasmania 7320 page 5 of 13
ASX RELEASE
Mineral Resource & Ore Reserve
The Project contains a total resource of 1.25 Bt of magnetite ore grading at Davis Tube Recovery
(DTR) of 33.7%. This resource has been defined using geological boundaries and a cut-off grade
of 10 weight percent Davis Tube Concentrate (DTC) and includes minor internal dilution. A
resource statement prepared in accordance with JORC 2012 has been declared for the Project.
The mineral resource consists of alternating bands of magnetite hosted in clinopyroxene and
primary quartz located within SDJV mining lease, M70/1309 and Exploration Licence R70/61
(see ASX announcement, 28 February 2014).
The metallurgical plant has been designed to achieve 69.5% Fe in the final concentrate (see ASX
announcement, April 2012).

part of a much larger document

===========================================================================

DYOR

i hold GRR


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## Erlang (24 August 2022)

I wonder what's going on with the GRR price today. It shot up about 8 to 10 percent this morning on no news. But about a year ago (25.08.22) GRR released their half-yearly results. Perhaps we'll see new results in the next days.


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## divs4ever (24 August 2022)

yes that should be enlightening  since GRR ships mostly to just one customer ( corporation )

 maybe it will give us a clearer insight into what is happening inside China 

 although news on the other project  might be forth-coming as well since they seem to have given-up on a joint-partner 

 but the question on shareholders lips must be  what about the div. ???

 back to the 'old days  ' of 2 cents a year ( to conserve cash ) or is 10 and 20 cents a year the new normal 

 i had been seriously tempted to reduce the holding  to rescue the investment  cash  .. but then  the last two divs. had almost achieved that already   ( 20 cents of the 20.3 cents a share invested )

 i am just amazed  more shareholders didn't catch on to this company earlier 

 i bought the last parcel in September 2014 @ 11.5 cents a share  ( and probably should have brought a shopping trolley  .. it was tightly held at the time   so a car boot wouldn't have worked )

 watch  the production costs , you know how easily spooked the market is currently


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## Dona Ferentes (29 August 2022)

Erlang said:


> I wonder what's going on with the GRR price today. It shot up about 8 to 10 percent this morning on no news.



and down much more than that on results


Erlang said:


> But about a year ago (25.08.22) GRR released their half-yearly results. Perhaps we'll see new results in the next days.



Revenues from ordinary activities ( 6 months to 30 June V pcp $’000) ................. Down 24% from 450,572 to 341,051
Profit from ordinary activities after tax (before significant items) ..................... Down 36% from 205,914 to 132,188
Profit for the period attributable to members ...................................................... Down  36% from 205,914 to 132,188
Dividend of 2c ff


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