Magnetite is typically a lower grade in ground, but can be...

Magnetite is typically a lower grade in ground, but can be processed to produce a high grade output. Yes the costs are higher than Hematite which is a 'higher' grade in ground and can be mined and shipped without the additional processing, but once magnetite is processed, it will generally demand a higher sale price than Hematite.

MGT has NextOre technology available with an exclusivity agreement for a few more years, which should help improve throughput, productivity, efficiency/output etc. I suggest you read up about that as well.

There is also a wealth of information on the MGT boards which I suggest you scan and read through.

I think the Muster Dam resource may even produce a higher grade. It is currently being analyzed and we are awaiting further information about the resource. However the current focus is Razorback which will probably have an initial output of 3 million tonnes shipped to start with, based on the recent PFS.

It's an interesting project. If they can obtain funding and the IO price holds up, then we should see them shipping product by the end of 2024.