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Business Description: Grange Resources Ltd (GRR) owns and operates iron ore mining and pellet production business located in the northwest region of Tasmania. GRR focuses on magnetite projects in two main areas, namely, Savage River Mine Operation and Southdown Project.
Strategy Analysis: The company has maintained its strategy of pursuing growth through acquiring smaller bolt-on acquisitions that deliver value for shareholders. GRR will continue to pursue a policy of careful capital management and will be reinvesting in plants while watching for other acquisition opportunities and maintaining the company's capability to take advantage of other significant opportunities to add value to the asset portfolio. The company is working to eliminate raw materials that are genetically modified, from the retail branded products wherever this is technically possible and will maximise cost recovery through operational efficiency and price recovery in the market place. Sustained increases in the costs of agricultural commodities are expected to ease in the future.
Grange Resources reported NPAT down 83% to $35.90m for the year ended 31 December 2012. Revenues from ordinary activities were $331.31m, down 19% from last year. Diluted EPS was 3.1 cents compared to 18.76 cents last year. Net operating cash flow was $131.93m compared to $210.38m last year. The final dividend declared was 2 cents, taking the full year dividend to 2 cents compared with 2 cents last year.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 |
‚ÄúIf you want to have a better performance than the crowd, you must do things differently from the crowd.‚ÄĚ Sir John Templeton.
Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 |
Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.
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