Iron ore pricd, page-35

"The comment comparing GRR to FMG alone shows you dont understand mining."

Hi Greatone,
Rythex did not compare GRR to FMG.
Greatone compared GRR to FMG.

You cannot compare FMG to GRR. FMG does not make pellets. Even FMG's Iron Bridge only goes half way by supplying concentrate only for someone else to make into pellets.

Concentrate is a poor feed for an EAF or BF because a lot of the fine material, around 30 micron, would be lost in vapourization. Hence concentrate from FMG's Iron Bridge has to go through a pelletization process.

You therefore cannot compare FMG's costs to that of GRR's . . . as the pelletization costs account for roughly half of GRR's costs.

If you were to compare mining costs only then you would find that GRR is in the ball park of other producers such as MGX, as commented by Rythex.

Rythex did not make any comment comparing GRR to FMG