MGT 4.17% 23.0¢ magnetite mines limited.

I dont understand how they say that"Probable Ore Reserve of 473...

  1. 227 Posts.
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    I dont understand how they say that

    "Probable Ore Reserve of 473 million tonnes, sufficient to support a 20+ year operation"

    "mining operation that delivers run of mine ( ROM) ore to a 12.8 million tonne processing plant, designed to produce a nominal 2 million tonnes of concentrate per year"

    20 years x 2 million is not 473 million tonnes.

    To only ship 2 million tonnes per year is tiny.

    I have worked at some very small iron ore mines that are ship 12 million per year.

    2 million is nothing.



 
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