FY2021
Record result and special distribution
Record A$321.6m profit after tax accompanied a 10 cent special dividend and 2 cent interim payment. A further 10 cent final dividend related to FY2021 but was recommended after balance date.
ASX: GRR · Five-year financial review
Grange Resources Limited (ASX: GRR) - Five-Year Financial Review FY2021-FY2025
A five-year review of Grange's consolidated A$ statements and Savage River mining measures. Statutory amounts are A$ thousands unless the row states another unit; issuer-defined prices and C1 costs are shown separately.
Reading the tables: 0 (nil) is a supported zero. Other text distinguishes an amount included in another line, a non-applicable item, a separately unavailable component and an unresolved value. These are not interchangeable. Period-specific detail is labelled; complete year-by-year detail remains available.
FY2025 revenue
A$477.9m
Consolidated revenue from operations, down from FY2024.
FY2025 profit after tax
A$46.6m
Statutory consolidated result.
FY2025 operating cash flow
A$132.5m
Cash inflow from operating activities.
FY2025 product sales
2.30m dmt
Iron ore product sales, down from FY2024.
Five years in context
The FY2021 price peak delivered record profit. By FY2025, realised A$ pellet pricing was lower while issuer-defined C1 unit cost was higher, narrowing the spread between the two measures. C1 changes its denominator after FY2021, so the cost trend needs that boundary in view.
Grange's main operation is Savage River mining and Port Latta pelletising in Tasmania. Southdown became wholly owned after the 2023 reacquisition of the remaining 30% interest. North Pit Underground moved through feasibility and approvals, then funding uncertainty delayed development; reported project economics are estimates, not historical earnings.
Net assets rose over the period while cash from operations fell from its FY2021 peak. The cash-flow table separates capital spending, term-deposit movements and distributions, which affect the closing cash balance differently.
Events behind the numbers
FY2022
Pellet pricing normalised
Average realised price fell to A$203.18/t and C1 cost rose to A$120.64/t; Centre Pit expansion approvals were secured.
FY2023
Southdown interest reacquired
Grange completed the acquisition of the remaining 30% Southdown interest in July, taking ownership to 100%; North Pit Underground feasibility work advanced.
FY2024
Underground approvals and pause
North Pit Underground planning approvals were received in August; development was later paused while funding was sought. Lower realised pricing weighed on earnings.
FY2025
Lower volumes, no dividend paid
Product sales fell to 2.30m dmt and operating cash inflow to A$132.5m. The cash-flow statement reports no dividend payment in 2025.
FINANCIAL REVIEW / 01
Earnings and margins
Revenue and gross profit declined from the FY2021 peak. The statutory table exposes the expense build and tax line. The separate cost note reconciles mining components plus property costs to the group cost of sales in FY2021 and FY2022; those property components are not separately presented in later selected notes. FY2025's complete statement was recovered from its registered annual table.
Revenue and profit after tax
A$'000
Revenue from operationsProfit after tax (net profit for the year)
AI-generated presentation · values from Consolidated income statement; no missing values plotted as zero.
Consolidated income statement
A$'000 unless shown by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue from operationsA$'000 | 781,662 | 594,555 | 614,744 | 520,805 | 477,854 |
| Cost of salesA$'000 | -337,269 | -334,027 | -394,690 | -450,419 | -413,073 |
| Gross profit from operationsA$'000 | 444,393 | 260,528 | 220,054 | 70,386 | 64,781 |
| Administrative expensesA$'000 | -3,883 | -4,634 | -5,053 | -5,675 | -7,313 |
| Exploration and evaluation expenditureA$'000 | -12,611 | -20,930 | -15,570 | -3,809 | -3,385 |
| Other income (expense)A$'000 | 11,141 | -4,480 | 3,870 | 157 | -290 |
| Operating profit before finance costsA$'000 | 439,040 | 230,484 | 203,301 | 61,059 | 53,793 |
| Finance incomeA$'000 | 23,060 | 21,784 | 15,915 | 23,263 | 16,460 |
| Finance expensesA$'000 | -1,210 | -3,442 | -4,121 | -3,318 | -3,116 |
| Profit before income tax expenseA$'000 | 460,890 | 248,826 | 215,095 | 81,004 | 67,137 |
| Income tax expenseA$'000 | -139,275 | -77,091 | -64,991 | -22,455 | -20,537 |
| Profit after tax (net profit for the year)A$'000 | 321,615 | 171,735 | 150,104 | 58,549 | 46,600 |
| Other comprehensive income, net of taxA$'000 | — | — | 0 (nil) | 0 (nil) | 0 (nil) |
| Total comprehensive incomeA$'000 | 321,615 | 171,735 | 150,104 | 58,549 | 46,600 |
Calendar years ended 31 December. Statutory consolidated A$ thousands; expenses and tax are negative. FY2025 is completed from the original registered FY2025 income statement.
Basis and presentation notes (5)
- Other comprehensive income, net of tax / FY2021 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Other comprehensive income, net of tax / FY2022 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Other comprehensive income, net of tax / FY2023 — 0 (nil): The linked issuer extraction R002850 identifies this FY2023 line as nil on its stated basis.
- Other comprehensive income, net of tax / FY2024 — 0 (nil): The linked issuer extraction R004003 identifies this FY2024 line as nil on its stated basis.
- Other comprehensive income, net of tax / FY2025 — 0 (nil): The linked issuer extraction R004756 identifies this FY2025 line as nil on its stated basis.
Source: Grange annual reports FY2021–FY2025; FY2025 original statement rows recovered from selected registered annual tables.
Earnings per share
A$'000 unless shown by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Basic earnings per sharecents per share | 27.84 | 14.84 | 12.97 | 5.06 | 4.03 |
| Diluted earnings per sharecents per share | 27.84 | 14.84 | 12.96 | 5.04 | 4.01 |
Cents per ordinary share; basic and diluted figures are separate reported measures.
Source: Grange annual reports FY2021–FY2025; FY2025 original statement rows recovered from selected registered annual tables.
FINANCIAL REVIEW / 02
Assets, obligations and equity
Net assets reached A$1,108.2m at 31 December 2025. Cash and cash equivalents are separate from current other financial assets; the latter include liquid investments and should not be added to cash without checking the instrument classification.
Net assets at 31 December
A$'000
Net assets
AI-generated presentation · values from Consolidated balance sheet; no missing values plotted as zero.
Consolidated balance sheet
A$'000 unless shown by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalentsA$'000 | 443,890 | 108,411 | 109,706 | 71,449 | 94,549 |
| Trade and other receivablesA$'000 | 24,119 | 58,421 | 74,612 | 14,232 | 49,596 |
| InventoriesA$'000 | 162,001 | 162,904 | 179,816 | 225,718 | 247,597 |
| Other financial assets (current)A$'000 | 20,799 | 192,177 | 175,030 | 228,527 | 184,478 |
| Total current assetsA$'000 | 650,809 | 521,913 | 539,164 | 539,926 | 576,220 |
| Property, plant and equipmentA$'000 | 137,180 | 197,829 | 248,475 | 287,543 | 232,611 |
| Right-of-use assetsA$'000 | 18,540 | 6,953 | 2,096 | 1,263 | 171 |
| Mine properties and developmentA$'000 | 262,377 | 360,952 | 443,038 | 461,031 | 574,549 |
| Deferred tax assetsA$'000 | 43,345 | 0 (nil) | — | — | — |
| Receivables (non-current)A$'000 | 7,984 | 8,988 | 10,009 | 10,153 | 11,108 |
| Other financial assets (non-current)A$'000 | 0 (nil) | 1,584 | 1,363 | 1,404 | 828 |
| Total non-current assetsA$'000 | 469,426 | 576,306 | 704,981 | 761,394 | 819,267 |
| Total assetsA$'000 | 1,120,235 | 1,098,219 | 1,244,145 | 1,301,320 | 1,395,487 |
| Trade and other payablesA$'000 | 120,836 | 67,723 | 50,380 | 42,598 | 37,793 |
| Lease liability (current)A$'000 | 16,920 | 4,284 | 1,442 | 1,266 | 91 |
| Provisions (current)A$'000 | 22,290 | 22,007 | 25,560 | 24,280 | 26,991 |
| Total current liabilitiesA$'000 | 160,046 | 94,014 | 77,382 | 68,144 | 64,875 |
| Lease liability (non-current)A$'000 | 535 | 2,198 | 773 | 57 | 85 |
| Deferred tax liabilitiesA$'000 | 0 (nil) | 17,516 | 53,938 | 69,402 | 98,444 |
| Provisions (non-current)A$'000 | 88,435 | 80,365 | 80,726 | 100,906 | 122,378 |
| Government grants (non-current liability)A$'000 | — | — | 0 (nil) | 1,550 | 1,550 |
| Total non-current liabilitiesA$'000 | 88,970 | 100,079 | 135,437 | 171,915 | 222,457 |
| Total liabilitiesA$'000 | 249,016 | 194,093 | 212,819 | 240,059 | 287,332 |
| Net assetsA$'000 | 871,219 | 904,126 | 1,031,326 | 1,061,261 | 1,108,155 |
| Contributed equityA$'000 | 331,513 | 331,513 | 331,513 | 331,513 | 331,513 |
| ReservesA$'000 | -2,273 | -2,220 | -1,977 | -1,657 | -1,363 |
| Retained earningsA$'000 | 541,979 | 574,833 | 701,790 | 731,405 | 778,005 |
| Total equityA$'000 | 871,219 | 904,126 | 1,031,326 | 1,061,261 | 1,108,155 |
Balance dates are 31 December each year. Deferred tax assets are separately presented at FY2021 and nil in FY2022; later statements present a deferred tax liability instead.
FY2023 government grants are 0 (nil) on the non-current-liability basis: the FY2024 comparative dash is supported by the complete FY2023 statement subtotal. Other absent balance lines remain not separately presented.
Basis and presentation notes (9)
- Deferred tax assets / FY2022 — 0 (nil): The linked issuer extraction R001804 identifies this FY2022 line as nil on its stated basis.
- Deferred tax assets / FY2023 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Deferred tax assets / FY2024 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Deferred tax assets / FY2025 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Other financial assets (non-current) / FY2021 — 0 (nil): The linked issuer extraction R001797 identifies this FY2021 line as nil on its stated basis.
- Deferred tax liabilities / FY2021 — 0 (nil): The linked issuer extraction R001823 identifies this FY2021 line as nil on its stated basis.
- Government grants (non-current liability) / FY2021 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Government grants (non-current liability) / FY2022 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Government grants (non-current liability) / FY2023 — 0 (nil): FY2024 comparative presents FY2023 government grants as a dash. The complete FY2023 non-current-liabilities statement sums lease 773, deferred tax 53,938 and provisions 80,726 exactly to total 135,437 (A$'000), leaving no separate government-grant liability.
Source: Grange annual reports FY2021–FY2025; FY2025 original statement rows recovered from selected registered annual tables.
FINANCIAL REVIEW / 03
Cash generation and capital allocation
Operating inflow fell in FY2025 with lower sales volumes and higher operating costs, partly offset by a tax refund. Spending on mine development and plant remained material; deposits are financing of liquidity rather than operating costs.
Operating cash inflow
A$'000
Net cash inflow from operating activities
AI-generated presentation · values from Operating cash flows; no missing values plotted as zero.
Operating cash flows
A$'000 unless shown by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Receipts from customers and other debtors (incl. GST)A$'000 | 841,849 | 561,485 | 611,719 | 580,665 | 437,795 |
| Payments to suppliers and employees (incl. GST)A$'000 | -305,541 | -291,866 | -312,843 | -344,351 | -329,531 |
| Operating cash before interest, tax and other itemsA$'000 | 536,308 | 269,619 | 298,876 | 236,314 | 108,264 |
| Interest receivedA$'000 | 6,442 | 7,528 | 13,830 | 17,622 | 15,369 |
| Interest and other finance costs paidA$'000 | -304 | -1,047 | -257 | -171 | -116 |
| Income taxes received/(paid)A$'000 | -44,286 | -101,777 | -45,341 | -13,845 | 8,997 |
| South Deposit tailings tax refund (separately presented)A$'000 | — | 22,622 | 0 (nil) | — | — |
| Net cash inflow from operating activitiesA$'000 | 498,160 | 196,945 | 267,108 | 239,920 | 132,514 |
Cash basis, A$ thousands. FY2025 income tax is a receipt, while preceding years may be payments. The unlabeled issuer subtotal is described here as receipts less supplier and employee payments.
FY2022 operating cash flow includes a separately presented A$22.622m tax refund relating to capitalised South Deposit tailings costs. FY2023 displays nil; other years are not separately presented in the selected cash flow lines.
Basis and presentation notes (4)
- South Deposit tailings tax refund (separately presented) / FY2021 — —: No separate South Deposit tailings tax-refund line is presented for this year in the selected cash-flow extraction; the net tax line remains shown above.
- South Deposit tailings tax refund (separately presented) / FY2023 — 0 (nil): The linked issuer extraction R002948 identifies this FY2023 line as nil on its stated basis.
- South Deposit tailings tax refund (separately presented) / FY2024 — —: No separate South Deposit tailings tax-refund line is presented for this year in the selected cash-flow extraction; the net tax line remains shown above.
- South Deposit tailings tax refund (separately presented) / FY2025 — —: No separate South Deposit tailings tax-refund line is presented for this year in the selected cash-flow extraction; the net tax line remains shown above.
Source: Grange annual reports FY2021–FY2025; FY2025 original statement rows recovered from selected registered annual tables.
Investing and financing cash flows
A$'000 unless shown by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Payments for property, plant and equipmentA$'000 | -39,996 | -87,733 | -104,401 | -86,087 | -44,186 |
| Payments for mine properties and developmentA$'000 | -40,074 | -136,846 | -153,791 | -113,700 | -110,243 |
| Proceeds from sale of property, plant and equipmentA$'000 | 0 (nil) | 1 | 11 | 112 | 0 (nil) |
| Proceeds/(payments) for term and security depositsA$'000 | 504 | -191,159 | 16,281 | -53,844 | 45,422 |
| Proceeds from managed fundsA$'000 | — | 19,493 | 0 (nil) | — | — |
| Commodity options cash flowA$'000 | — | — | 0 (nil) | 143 | -510 |
| Net cash outflow from investing activitiesA$'000 | -79,566 | -396,244 | -241,900 | -253,376 | -109,517 |
| Dividends paid to shareholdersA$'000 | -162,028 | -138,881 | -23,147 | -28,934 | 0 (nil) |
| Repayment of lease liabilitiesA$'000 | -3,222 | -6,670 | -2,040 | -1,795 | -1,792 |
| Net cash outflow from financing activitiesA$'000 | -165,250 | -145,551 | -25,187 | -30,729 | -1,792 |
Cash outflows are negative. Term deposits move cash between cash equivalents and other financial assets. FY2025 dividend payments and disposals are shown as nil in the source. Lease line wording follows the issuer's statement and may include principal and interest components across years.
FY2025 proceeds from PP&E disposals and dividends paid are issuer-supported nil, not merely inferred from statement dashes. Dividends declared in respect of FY2025 have a different timing basis and are not available in the checked parsed reports; nil payments are not substituted for declarations.
Basis and presentation notes (10)
- Proceeds from sale of property, plant and equipment / FY2021 — 0 (nil): The linked issuer extraction R000766 identifies this FY2021 line as nil on its stated basis.
- Proceeds from sale of property, plant and equipment / FY2025 — 0 (nil): The linked issuer extraction R004617 identifies this FY2025 line as nil on its stated basis.
- Proceeds from managed funds / FY2021 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Proceeds from managed funds / FY2023 — 0 (nil): The linked issuer extraction R002958 identifies this FY2023 line as nil on its stated basis.
- Proceeds from managed funds / FY2024 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Proceeds from managed funds / FY2025 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Commodity options cash flow / FY2021 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Commodity options cash flow / FY2022 — —: This line is not separately presented in the selected annual statement for this year; no zero is inferred.
- Commodity options cash flow / FY2023 — 0 (nil): The linked issuer extraction R004116 identifies this FY2023 line as nil on its stated basis.
- Dividends paid to shareholders / FY2025 — 0 (nil): The linked issuer extraction R004704 identifies this FY2025 line as nil on its stated basis.
Source: Grange annual reports FY2021–FY2025; FY2025 original statement rows recovered from selected registered annual tables.
Cash reconciliation
A$'000 unless shown by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents at beginning of yearA$'000 | 183,385 | 443,890 | 108,411 | 109,706 | 71,449 |
| Net increase/(decrease) in cash and cash equivalents (pre-FX)A$'000 | 253,344 | -344,850 | 21 | -44,185 | 21,205 |
| Effects of exchange rate changes on cashA$'000 | 7,161 | 9,371 | 1,274 | 5,928 | 1,895 |
| Cash and cash equivalents at end of yearA$'000 | 443,890 | 108,411 | 109,706 | 71,449 | 94,549 |
Reconciliation uses the cash flow statement's cash and cash equivalents, not cash plus term deposits or other liquid investments.
Source: Grange annual reports FY2021–FY2025; FY2025 original statement rows recovered from selected registered annual tables.
FINANCIAL REVIEW / 04
Shareholder distributions
Dividends in respect of a financial year and cash paid fall in different calendar years. FY2021's 22 cents per share includes a final dividend recommended after 31 December 2021; cash paid in that year was A$162.0m. No dividend was paid in FY2025.
In-respect-of-year versus cash-paid dividends
Units by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Dividends in respect of financial yearcents/share | 22 | 4 | 2 | 0.5 | Not available in checked reports |
| Dividends paid in financial yearA$'000 | 162,028 | 138,881 | 23,147 | 28,934 | 0 (nil) |
The in-respect-of-year and cash-paid-in-year figures have different timing bases. FY2021's total includes a final dividend recommended after year-end. FY2025 cash paid is explicitly nil in Note 28; its rows address earlier periods, and a FY2025 in-respect-of-year distribution was not resolved in the selected evidence.
FY2025 dividends paid are 0 (nil) on a cash-year basis. This does not decide dividends in respect of FY2025.
Final selected-table lookup did not establish a FY2025 in-respect-of-year declaration; do not substitute nil cash paid or dividends received for that timing basis.
Basis and presentation notes (2)
- Dividends in respect of financial year / FY2025 — Not available in checked reports: The FY2025 parsed Directors' Report and Note 28 provide dividend-payment information, not an established dividend declared in respect of FY2025. Nil cash paid is retained on its own basis and is not substituted into this declaration-per-share row. Final search closed on 28 September 2026; this is a limit of the checked parsed reports, not proof of issuer non-disclosure and not a zero.
- Dividends paid in financial year / FY2025 — 0 (nil): The linked issuer extraction R004593 identifies this FY2025 line as nil on its stated basis.
Source: Issuer annual reports; dividend note and cash flow statement.
FINANCIAL REVIEW / 05
Savage River and Port Latta operating drivers
Pellet and concentrate production declined in FY2025. The cost build is an IFRS note, whereas C1 is an issuer-defined unit metric. C1's denominator changed after FY2021, so the five-year row should be read as a series with a basis break.
Pellets produced
tonnes
Pellets produced
AI-generated presentation · values from Savage River production and unit cost; no missing values plotted as zero.
Savage River production and unit cost
A$'000 unless shown by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total BCM minedBCM | 13,667,044 | 15,466,534 | 17,529,864 | 16,249,582 | 14,279,898 |
| Total Ore BCMBCM | 2,804,234 | 1,280,501 | 1,033,932 | 2,274,113 | 1,916,847 |
| Concentrate producedtonnes | 2,559,987 | 2,624,865 | 2,589,144 | 2,611,876 | 2,221,357 |
| Weight recovery% | 44.4 | 45.2 | 44.4 | 41 | 39.6 |
| Pellets producedtonnes | 2,597,428 | 2,518,232 | 2,341,654 | 2,469,650 | 2,210,227 |
| Pellet stockpile (closing)tonnes | 210,193 | 298,725 | 136,791 | 242,913 | 293,369 |
| C1 operating costA$ / tonne | 99.73 | 120.64 | 136.65 | 146.14 | 164.69 |
C1 is issuer-defined and not an IFRS expense. FY2021 uses cost per tonne of product produced; FY2022–FY2025 use cost per tonne of concentrate produced, so its series is visibly broken at FY2022. Pellet stockpile is a year-end balance; other volume rows are annual flows.
Source: Grange annual reports FY2021–FY2025; FY2025 original statement rows recovered from selected registered annual tables.
Iron ore product sales and realised prices
Units by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total iron ore product salesmillion dmt | 2.62 | 2.57 | 2.64 | 2.532869 | 2.300671 |
| Average realised product price, FOB Port LattaA$/t | 276.17 | 203.18 | 212.83 | 182.94 | 189.44 |
Sales are dry metric tonnes. Realised prices are FOB Port Latta. A$ and US$ price rows are separate currency series; exchange rate is AUD:USD.
FY2021–FY2023 product sales are issuer-rounded million-tonne figures; FY2024–FY2025 were converted from exact dmt in the registered table, with calculation evidence retained. Do not interpret the varying precision as a change in physical measurement.
Source: Annual report operational key metrics and FY2025 selected original sales table.
Realised price currency snapshot, 2024–2025
Units by row
| Metric | FY2024 | FY2025 |
|---|---|---|
| Average realised product priceA$/t | 182.94 | 189.44 |
| Average realised product priceUS$/t | 120.31 | 122.57 |
| Average realised exchange rateAUD:USD | 0.6577 | 0.647 |
FOB Port Latta. These are separately disclosed A$ and US$ realised prices and the realised AUD:USD rate; no currency translation is inferred for FY2021–FY2023.
Source: FY2025 annual report, selected original Iron Ore Product Sales Volumes and Realised Prices table.
Group cost of sales build
A$'000 unless shown by row
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Mining costsA$'000 | 137,837 | 180,339 | 204,807 | 223,562 | 212,241 |
| Production costsA$'000 | 117,370 | 141,710 | 150,989 | 162,654 | 157,382 |
| Change in inventoriesA$'000 | -45,485 | -448 | -5,064 | -47,788 | -15,963 |
| Freight costsA$'000 | 53,199 | 58,455 | 52,328 | 57,442 | 42,018 |
| Government royaltiesA$'000 | 24,752 | 19,464 | 23,150 | 10,551 | 10,030 |
| Depreciation and amortisation expenseA$'000 | 18,300 | 25,463 | 55,474 | 48,557 | 46,827 |
| Mine properties and development – amortisationA$'000 | 9,472 | 8,982 | 9,414 | 11,318 | 7,463 |
| Deferred stripping – capitalised during the yearA$'000 | -38,941 | -136,222 | -152,223 | -113,266 | -110,243 |
| Deferred stripping – amortisation expenseA$'000 | 54,899 | 21,133 | 57,332 | 99,511 | 61,578 |
| Foreign exchange (loss)/gainA$'000 | -1,202 | 2,535 | -1,517 | -2,122 | 1,740 |
| Property development / property costsA$'000 | 7,068 | 12,616 | — | — | — |
| Total cost of sales (group)A$'000 | 337,269 | 334,027 | 394,690 | 450,419 | 413,073 |
Issuer cost-of-sales note, A$ thousands. FY2021 mining components total A$330.201m (R000860); property development adds A$7.068m (R000866) to the group total. FY2022 property costs add A$12.616m (R001900) to its mining components. Later years do not separately present this property-cost component in the selected note, so no nil amount is inferred. FY2023 component values use a later FY2024 comparative; FY2024 uses the FY2025 comparative. The group total is a note decomposition, not an extra expense to add to the income statement.
Basis and presentation notes (3)
- Property development / property costs / FY2023 — —: Property costs are not separately presented in the selected cost-of-sales note for this year; no nil value is inferred.
- Property development / property costs / FY2024 — —: Property costs are not separately presented in the selected cost-of-sales note for this year; no nil value is inferred.
- Property development / property costs / FY2025 — —: Property costs are not separately presented in the selected cost-of-sales note for this year; no nil value is inferred.
Source: Grange annual reports FY2021–FY2025; FY2025 original statement rows recovered from selected registered annual tables.
Reading the figures
- The C1 denominator changes from product produced in FY2021 to concentrate produced from FY2022; the unit-cost series is not strictly like-for-like across that boundary.
- A dividend declared in respect of FY2025 is not available from the checked annual extraction, tables and parsed body. Note 28 separately establishes nil FY2025 cash paid; the two timing bases are not conflated.
- No valuation or forecast has been made.
- Final targeted check: existing parsed annual-report DB evidence was read on 28 September 2026. Not available in checked reports is a closed data-availability limit, never a numeric zero. Only the previously held cells and their directly related notes were changed; this is not a new full-report audit or publication approval.
Annual-report source registry
- Grange Resources Limited Annual Report to shareholdersYear ended 2021-12-31; document dated 2022-04-11.
- Grange Resources Limited Amended Annual ReportYear ended 2022-12-31; document dated 2023-05-08.
- Grange Resources Limited Annual Report to shareholdersYear ended 2023-12-31; document dated 2024-04-15.
- Grange Resources Limited Annual Report to ShareholdersYear ended 2024-12-31; document dated 2025-04-14.
- Grange Resources Limited Annual Report to shareholdersYear ended 2025-12-31; document dated 2026-04-10.
Prepared from the existing annual extraction datasets, supplemented only by selected same-company annual-report tables and saved row interpretations. No new raw-document extraction or web financial research was used for this test.
Sources, copyright and independence
The source references in this report identify the public disclosures used and should be read with the associated section, table and reporting-period qualifications. This report paraphrases, organises and compares those disclosures for descriptive and educational purposes rather than reproducing source text.
Copyright and other rights in linked reports, company names, logos and third-party materials remain with their respective owners. MII Research does not claim affiliation with or endorsement by the company covered in this report, the ASX or cited organisations.
AI-led method
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