Despite the name, my view is that magnetite is the medium/long term future of iron ore production. Most "new" deposits being "discovered" are of far inferior quality than historical production, hence the requirement for high grade magnetite concentrates.
The fact GRR is one of the most advanced projects is why I like them. Also like their geographical location, being nowhere near the Pilbara or Midwest. Less competition for workers/contractors etc and a very nice place to live. The Malaysian pellet plant is a bonus.
And as for GRR not having any option but to issue shares, I beleive they could have raised the money,(They were up near $3 at the time, and market conditions were good) but RIO wanted shares in GRR so they are within striking distance of taking them out if they desire.
GRR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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