Fe found in magnetite generally has a low Fe content and a VERY high CAPEX, crushing, grinding, beneficiation, tailings dam and a high power consumption.
Some examples.
FMG Iron Bridge 30% Fe. south of Port Hedland.
Sino Steel 30% Fe. south of Karratha
Karara 35% Fe. about 50km distant from Shine.
AHN 30% Fe. 210 km north of Mullewa.
The Shine magnetite resource appears to be the exception ind/inf resource 5mt @ 57% Fe, with a cut off at 50% the waste to ore is not disclosed. More drilling would be needed to have a proven resource. Perhaps the magnetite resource could be sold to Karara or a gate sale similar to Twin Peaks. Gindalbie a junior partner in Karara were previous owners of Shine. AIMO.
Fe found in magnetite generally has a low Fe content and a VERY...
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