I've used iron pellets as slug bait for a number of years. They are very effective on certain species -- the black slug, Arion ater, the brown banded arion, Arion circumscriptus, and the leopard slug, Limax maximus. Unfortunately, the milky slug (Deroceras reticulatum?) doesn't take the bait or isn't affected, and its population has exploded as the others' has decreased. Nature always fills a void.
...Claire