adam, you mention 65c a tonne for inground magnetite......the recent cape lambert magnetite sale on an inground basis is 26c a tonne which sets the benchmark.
Slide 13 from the presentation ( BRR today) shows that whilst the fe % is low head grade 26.28% and mass recovery at 34.33%, the Ca Fe is high at 81.10% and a concentrate at 62.39%.