i got this from Wikipedia to help those non beleivers out...

i got this from Wikipedia to help those non beleivers out there.

Another, minor, source of iron ores are magmatic accumulations in ultramafic to mafic layered intrusions which contain a typically titanium-bearing magnetite crystal rock (magnetitite) often with vanadium. These ores form a niche market, with specialty smelters used to recover the iron, titanium and vanadium. These ores are beneficiated essentially similar to banded iron formation ores, but usually are more easily upgraded via crushing and screening. The typical titanomagnetite concentrate grades 57% Fe, 12% Ti and 0.5% V2O5.

by the way, if AXO does get another off take partner on board i bet its with Panzhihua Iron and Steel Group from China.

from what i have seen they produced around 6-7mt of steel pa and they get around 30% of their iron ore from BHP, also their magnetite has a low level grade of iron 31% and around 0.30% vanadium. so you would think that they could probably stop getting the iron ore from BHP and switch to AXO, so its conceivable at AXO could easily increase concentrate sales from 10mtpa to 15mpt and beyond as the other offtake partners take more concentrate.

by the way 2.5% of total world steel production came from titanomagnetite containing vanadium and these producers produced over 50% of the worlds vanadium.

AXO is going to be a supplier of a niche product with buyers that can get a benefit from using their concerntrate over others.

if investors dont get the market cap of this stock higher the three Chinese steel/vanadium producers will just get together and take AXO over and mine and produce the ore themselves.