Ann: Quarterly Activities and Cashflow Report , page-11

brad75, going by what i posted:

The typical grade of iron at which a magnetite-bearing banded iron formation becomes economic is roughly 25% Fe, which can generally yield a 33% to 40% recovery of magnetite by weight, to produce a concentrate grading in excess of 64% Fe by weight.

And from our Activities report:

The drilling program is aimed at investigating the esource potential of the 1.5-2.0 billion tonne Exploration Target1 estimated to be present at the Telecom Hill Prospect and grading 25-35% Fe.(sounds good to me-economical)

We also need to ask ourselves as to "Why" would Mr Sage bother? But each to their own!!!

GL