Over the last couple of weeks there have been a number of people posting and suggesting that TTY only has enough ore to mine for the next 2 years, meaning that it will pay off debt and then run out of ore. I thought I would take it upon myself to point out that this is incorrect.
As stated in the presentation that TTY made at the NT Resources Week a couple of moths ago: "Frances Creek currently has 10 million tonnes of inferred and indicated resources of which 2 million tonnes are inferred and 8 million tonnes are indicated."
10 million tonnes mined at a rate of 2 million tonnes per year results in a 5 year mine life.
On top of this TTY has the Mt Bundey and Yarram projects, both of which are highly prospective for iron ore.
All the best to holders....
tty total resources
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