You queried whether the reserve was WMT or DMT. Do you really think that any iron ore miner is going to be measuring their reserve in WMT? FMG would be ~50% iron if they did....
If you think that MGX ore contains 8% moisture and you know reserve grade is 65.5% Fe and pure Hematite is 69.9% Fe you can probably answer your own question if you had half a brain.
Short term Bottom hit?, page-37
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