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Hi Chris,

53.6% Fe is low grade and 57.4% Fe is medium grade. Low containments, especially Si and Al (preferably <=5%) is more important than a few % variation in Fe levels.

Please don't take me the wrong way, because you are more than welcome to draw comparisons, but we really are talking about apples and oranges when we compare BCI's MC with UMC's based on potential Fe.

Having said that, UMC will need a JORC before we can ever hope to make an accurate comparison with its peers.