I have noticed alot of people mentioning 5.5 Bt resource. Just so we can keep everything to point; it is important to distinguish inferred and indicated and what resource is what. As per the SA gov energy & mining website, the 5.5Bt (Razorback, Iron Back and Muster Dam tenement only) is inferred and with aprox 2.7Bt inferred & indicated at Razorback (JORC 2012), 1.2Bt inferred at Ironback (JORC 2012) and 1.5Bt inferred at MusterDam (JORC 2004 currently being evaluated and updated to JORC 2012 compliance).
As show below
Id also like to add isn't even the whole strike they just stopped drilling because what they had drilled inferred a 3.9Bt resource with 2.7Bt indicated and when we see updates around Muster Dam we can add another inferred 1.5Bt as we progress through that exploration programme over the next 2 years.
If you have any doubts about the potential growth of this company as a producer, just look at their conceptual exploration range and apply it to potential expansion pathways after Razorback and Muster Dam tenement(s)
link below for website
https://energymining.sa.gov.au/minerals/knowledge_centre/mesa_journal/previous_feature_articles/magnetite_south_australias_potential
MGT share price, page-4797
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