Look I still like AQA but they have a funding gap and ironore...

Look I still like AQA but they have a funding gap and ironore could well be $100, well below the current spot market of around $135ish. As you noted AQA will receive a large discount due to impurities/lower Fe.

I don't hold at present, but may take a punt with a 3-5,000 shares in my SMSF. Not risking much capital on this though as i've been burnt big time on high capex greenfield iron ore projects (specifically GBG).