I know all the armchair experts hate magnetite ... but CFE didnt...

I know all the armchair experts hate magnetite ... but CFE didnt seem to have any trouble just offloading their magnetite today for $400million

Minemakers have a target of around 900Mt @ 37% plus magnetite, although their drill hits are more around 45% ...
WSD 001 12m @ 40.65% Magnetite
WSD 002 6m @ 36.0% Magnetite
WSD 003 9m @ 41.0% Magnetite
Average Iron in Magnetite, 66%

So if CFE get $400m for 1500Mt @ 31% and they had a few silica problems, what is MAK's 900MT @ 37% potentially worth? (early stages of course)

From MAK's report:

The West Southdown tenement, contains three zones which are interpreted as western extensions of the adjacent Southdown Iron Ore Project. Grange Resources Limited, the owner of Southdown, has announced a resource estimate of 458Mt @ 37% magnetite. That resource lies within a six kilometre length of magnetic target. The strike length of the West Southdown magnetic target zone is about 18 km and, by analogy with Southdown, it constitutes a target that could host a substantial mineralised body. Based on the magnetic signatures, EACH tenement has the potential to host mineralisation of similar size to the Southdown deposit.

So they have the potential of TWO iron ore projects the size of Grange's Southdown!!

cheers