I have been in these stocks for a few years now and you say i am...

I have been in these stocks for a few years now and you say i am incorrect after your 15min of research. You must be geeing me up.

My post spelt it out for you but your attention span seems low. I will make it simpler for you.

Magnetite is usually around 30% and that is why it needs benefication to get it to 60%+Fe. Therefore if the magnetite was at 15% that would be considered low grades. The grades are excellent for this deposit.

You are getting confused because there are 3 stages to what IFE are trying to do.

Stage 1. They found on the top of the deposit a lot of the ore with 50% and 60%plus grades so that is the DSO they are initially going to simply put on the back of the truck then rail it to Port Adelaide for the first couple of years at 2mtpa. Should be 15-20mt. Very little benefication needed if any.

Stage 2. The money from above will be used with some capital raising to finance the small benefication needed to upgrade the premium crystaline magnetite (60mt so far) which is sitting just underneath the Stage 1 DSO. So a lot of work is done already from stage 1 which keeps costs down for stage 2. This is not low grades in fact it is some of the best in the world, low inpurities with magnesium and calcium oxide also found which is used as flux. Without it it would need to be added by the steelmakers. This is why it will be sold at premium price.

Stage 3. Hercules deposit of 1 to 2 billion tonnes of BIF magnetite (255mt confirmed so far)will need the big money for benefication infastructure (maybe $800mill)but will be a few years away and certainly only if the new ports are built like promised by the SA and Federal government.

IMO the M.Cap for just stage 1 and 2 will be worth min $160mill closer to mid year for IFE. If that is too long to wait then you are in the wrong stock. TRf own 50%.

I hope this clears it up for eveyone.

I am happy to answer any questions from those who genuinely want to learn more about these companies.

Thadius