I had in mind the annual report rather than the Nifty announcement. Sorry for any distraction. In specific answer to your question, yes probably, but the announcement does not say does it? Reserves are those resources that can be mined economically. Hence if the price of the product declines then the grade of ore required to be economic has to increase, unless a corresponding reduction in extraction and processing costs can be found. In the absence of any information to the contrary then you need to assume that previously declared estimates of costs have remained the same.
MLX Price at posting:
16.0¢ Sentiment: None Disclosure: Held
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