Maybe the Indians want to get a leading foot in the door in creating hydrogen through water gas shift reaction. You need a bucket load of magnetite for it. Fuel of the future? lol We have high grade DSO Hematite. We also have high grade low impurity Magnetite. You can create a much higher quality concentrate wth low impurity Magnetite than you can with Hematite and because we already have low impurity Magnetite it will take less effort and expense to get it up to the required <70%. China and India are moving to Magnetite because higher grade Hematite is becoming harder to come by and will become more expensive to mine process so high grade Magnetite will outweigh any future costs associated with getting the Magnetite up to a higher purity % over Hematite.
LCY Price at posting:
21.0¢ Sentiment: None Disclosure: Held
