If magnetite was a better product than hematite / goethite / CID...

If magnetite was a better product than hematite / goethite / CID direct shipping ores companies like BHP and RIO would produce it.

There is not one product in any market that is seen as better if it offers the same utility but sits higher up the production cost curve - not one.

Failed gold companies saw a bit of crappy banded iron formtion on their tenements and made out it was iron ore. Now they are failed iron ore companies. The shareholders know about as much about iron ore as the directors do.

PS - Has Gary gone to China yet, or is he back ?