Thank you.
Reserve is more reliable as any resource that converts to reserve is the bonus on top depending upon ongoing cost & revenue (IO Price).
looking at 2023 annual report it says you got 1866mt of reserve and if you continue at a rate of 190/year then you got remaining 9.8 year which will change depending upon how many resource converts to reserve in future. this 190 includes 5 to 9mt from Magnetite.
But in the report all the data related to magnetite is probable and nothing is proven not sure why ?
May be market looking at remaining mine in pricing stock because 10 year isn't bad but it isn't great 40 year life either unless majority of resources converts to reserve.
Iron ore price, page-53992
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