Vayama,
It is not low grade fe, please refer to website and Fact Sheet. It is a premium product, very low impurities producing 70%fe even at course grinding.
An Engineers report claimed it to be one of it not the highest grade magnetite in Australia. Report should be on website somewhere.
I think where you are getting confused with is Hercules, is lower but potentially a massive resource and still early stages.
Anyway plenty of info on the website.
Cheers
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