The document summarizes initial experiments on producing a ferromagnetic nematic suspension using iron oxide platelets dispersed in the liquid crystal 5CB. Oleic acid was added to stabilize the platelets and induce homeotropic anchoring of 5CB on the platelet surfaces. High oleic acid concentrations decreased the melting temperature of 5CB. Effects of the magnetic platelets on 5CB were only seen at very strong fields, suggesting the anchoring was too strong or the field too weak. Future work will optimize concentrations and investigate the Faraday effect.