The thing is they hold too much of this publicly listed mining company which is likely going to have to pay increasing income tax. I think the departure from divy policy was an anticipation of the profits expected ahead and this JV is another strategy except it appears like it was made by the communist party on the cultural revolution....GRR Director is friends with a ROC Director...and you haven't needed to be in this stock too long before you start to feel betrayed - So GRR Management if your listening RETURN MORE TO THE LONG SUFFERING SHAREHOLDERS.
ROC's 6 projects so far on what looks like small properties so one hopes it is only small amount of our $$$ invested in what most agents predict is a declining Melbourne property market!
Ann: Corporate Update - Grange Strategic Developments, page-40
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