Iron Bear Resources has released its first Pre-Feasibility Study for its namesake magnetite project in Canada's Labrador Trough, together with a maiden Ore Reserve of 3.3 billion tonnes.

The iron ore market is splitting in two. The product that pays today's dividends, 62% Fe fines (62% iron content) into Chinese blast furnaces, carries a softening price outlook on every published forecast. The product with the strongest structural story, high-purity magnetite feed for direct-reduction steelmaking, sits mostly in projects that are the hardest to finance. That is the dilemma.

Iron Bear Resources (ASX: IBR) is developing a 13.6Bt Vale-backed magnetite project in Canada's Labrador Trough, producing DR-grade iron ore for green steel.

Iron Bear Resources is advancing a magnetite iron ore project in a jurisdiction that has been producing iron ore since 1954 and that hosts some of the world's most established direct-reduction-grade producers. Our facination as a shareholder wiht the Iron Bear story can be measured with three attributes that matter most for a development-stage magnetite story.