RE: RE: 62% magnetite FE Very confusing blog here??? magnetite is 62% iron in form of Fe3O4 and sells for around 150 to 160$ a ton if reasonably pure and dry. Now what does that have to do with oz of Au ? Unless you mean equivalent Au oz. Please do state so if You do, Pozelei. At any rate we don not know how much iron ore is to be purified and dried per year and what the processing cost are. Although my understanding is that we net approx 10 $ per t of iron ore.
My 2 cents worth, Wolf E (oder vielleicht 2 Pfennige oder Groschen?)