magnetite = low grade iron. needs to be processed into a...

magnetite = low grade iron. needs to be processed into a concentrate.

haemitite or DSO = high grade iron. doesnt need to be processed and ships directly after digging as the grade is already at the concentrate level. haematite is generally around the 60% FE mark without processing... big difference i think...

28.6Mt yielding 10.1Mt concentrate containing 66.26% Fe is basically saying we can extract roughly 6.6 million tonnes of pure iron from processing 28mt tonnes of ore.

so ASF, the ore is low grade and costs money to be converted to a higher grade. its still ok but nothing close to DSO.

ps im not mocking the stock, just stating the fact. is it a buy? anything down 90% in 12 months generally is worth a look for a potential turn around.