heading further north, page-19

The 33% you refer to, wall fly, is in fact a direct quote from a Cygnet Capital report and is identified as such in my post. I wouldn't normally reply to one of your posts but there is a point of general interest to be made.

Many posters fail to distinguish between good magnetite grades and good haematite grades. I expect the RIO reference is to haematite grades and these typically do grade much higher than 33%. The VMS mineralisation however is magnetite and for this type of ore, 33% is an excellent grade. Its magnetic nature means that magnetite is easily upgraded to a high state of purity and this gives it a premium value.