atlas seeking a partner to develop magnetite, page-8

and this:

Part of presentation:

AusIMM IRON ORE CONFERENCE,

SHERATON, 21 AUGUST 2007

"Expanding Australia's Resource Base"

Jim Limerick - Director General

Department of Industry & Resources, Western Australia

China has the technology and long experience in exploiting very low grade, ultrafine-grind magnetites.

The fact that so many of the new project partners are Chinese comes, therefore, as no surprise.

It is only natural that this interest is established in Australia, where many of our magnetite ores are nearer to surface (open pit exploitation), higher head grade and coarser grind than what is currently exploited in much of China.

Exploitation of magnetites in Western Australia is close, but not yet there. Once a project is established, I believe this part of the industry may grow rapidly and provide yet another option in our increasing blend of products offered to the market and it will increase our exploitable resource base dramatically.

(I know there are many sceptics on the future of magnetite ores and perhaps the jury is still out!)"

Where does Tony from Eureka discuss who in the Chinese market prefers hermatite over magnetite? Nowhere, because at the moment the Chinese aren't bothered by that they just want MORE IO (in any form at the cheapest possible price)!