What diff does it make? H vs M ores? It all boils down to the cost curve. CITIC has huge cost advantage being next to the coast, which effectively offsets their additional costs. Their project is in the lowest quartile of the cost curve.
And grade has a lot to do with costs as well. There are plenty of high grade M deposits that are DSO (Labrador for example) - just dig and ship. Capex for those deposits is minuscule, so longer shipping distances are still cost effective.
