I have explained the "supergrade" marketing before... You need...

I have explained the "supergrade" marketing before... You need to understand this. "Pure Magnetite" is approximately 72.4% iron, so HIO "Supergrade" is near pure magnetite. Unfortunately, the quantities stated in the ore body have a DTR ( Davis Tube Recovery) as low as 6%. (94% of the ore mined is waste). To produce 20mtpa at a DTR of say 10% DTR = mining 200mtpa (180mtpa waste). THESE are huge numbers .. Consider low-grade products from FMG (hematite) is 58% iron ore. Basically, FMG digs it up and ships... no need for processing. The Braemar deposit of magnetite iron ore has areas of high grade (20%+), but most is less than 10%. HIO has mining rights for an area of around 157 kms2 for reference MGT has around 1,500kms2 (10 x the area to mine) add to this much higher grade in the ground, closer to the surface, closer to rail and port and most importantly in South Australia. MGT has always been about a small startup being less than 5 mtpa and using selective mining. (Ironback has a DTR above 20%). Keep in mind that all magnetite mines require huge startup costs due to the process plant required to make a high-grade product. Something to consider... nearly all iron ore mined in China is Magnetite with an average cost of nearly $100 USD per tonne... Processing Magnetite requires huge amounts of water. This has been the biggest problem for Australian magnetite startups...