Easy to cover the whole lot in a day I'd have thought but only if you start from Whitby or catch the first train of the day to Whitby from Middlesbrough. I don't believe there would be time to go to/from Whitby and fit in the rest that you can cover unless you're back in Middlesbrough at 10:17 (which leaves Whitby at 08:50). Though if you're wanting to get off at every station then you'll struggle and from your comment about Teesside Airport and British Steel Redcar it sounds like you might?
I'd sacrifice not doing Teesside Airport as it's just not possible to do them all in a day. First train from Whitby (08:50) is doable, as there is a bus to there from Scarborough (my home town). Would need to be on the 16:29 from Saltburn to get British Redcar Steel, as it will most likely be a Saturday when I do this.
So need to work a way to do get round it all to be on the 20:42 Newcastle train back home. Looking quickly, going to have to be pretty snappy to get in the Newcastle-Hexham and Newcastle-Morpeth legs in, as well as Thornaby-Northallerton. It looks tight, but doable - will plan more tonight - but if anyone has any gems of advice I'd love to hear them!
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I see Dunston is getting an hourly service from December 2013, and as we're looking at probably February 2014, that will work well.