Yeah I was reading an enticing article on the topic in the AFR...

Yeah I was reading an enticing article on the topic in the AFR about six months ago, which talked about how the bully boys of the Pilbara such as BHP and RIO TINTO try to falsely paint magnetite as a far inferior grade of iron ore hardly worth processing.

Hematite is usually of a higher grade and requires very little if any benification before being shipped away. This means it can in fact be sold on the spot market as DSO (Direct Shipping Ore. Spot prices are 3 times higher than contract prices at the moment.

Magnetite is usually of a lesser grade and requires usually fairly heavy beneification which is expensive.

However IFE's magnetite - seriously, I'm not just saying this because I am a shareholder you can even got on their website and look at prospectus - is of a supreme quality and requires little benification.

Besides IFE have found that there is the possibility for hematite DSO at their prospects - the best of both worlds!