Just about all other junior iron ore companies have to report how much Fe is in the ground before even considering digging it out. This has to a be large amount to appease shareholders. But still then costs are huge in getting the Fe out, they have to have massive share placements and capital raisings.
TTY is doing things differently. Their resource ATM is low compared with many others but are exporting and ramping up to 3mtpa within 12 months out of Frances Creek.
TTY is obviously extremely confident that resource will exceed another 30 to 50 mill tonnes as no point setting up a production mine plant for a time frame less than 10 to 15 years. IMO
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