My understanding is that magnetite can be concentrated using the magnetic properties of the ore (yes more involved) however the emissions generated using magnetite in the steel mill are significantly less, allowing magnetite to be sold as a premium product over hematite in this emissions stifled steel producing environment. 65% is decent grade I think. They may yet surprise us all with benefication targets above 65%. Some clever folks on the Canadian chat are recommended further infill drilling to really set the bar high. Could prove 68% grade is possible perhaps!
I personally wouldn’t use the term ‘ordinary’ with magnetite because I expect a strong demand for the product due to strict emissions requirements. Big plus for MIO.
Go get em all AUS lots of room to get to fair market value yet.
MIO Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
