GLA 0.00% 1.5¢ gladiator resources limited

Low grade? This from the Half Yearly in March, 2012:* Resource:-...

  1. asf
    9,888 Posts.
    Low grade? This from the Half Yearly in March, 2012:

    * Resource:
    - Cerro Papagayo – 28.6Mt yielding 10.1Mt concentrate containing 66.26% Fe;
    - and Cerro Iman – 17.3Mt yielding 5.7Mt concentrate containing 65.81% Fe.
    - containing very low levels of contaminants such as sulphur and phosphorous from the Papagayo Ridge line.
    ____________________

    How can 65% and 66% Fe be considered low grade?
 
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