I wonder if someone can elaborate on the Tropicana “MRE” and “ORE” update here.
Am I correct in thinking that,
- if a 75% replacement for depletion can be maintained year on year, in theory, a tenement with an initial 10-year LOM can be mined for 40 years before it runs out?
- The exploration costs will be largely capitalized offsetting depreciation of the mining asset incrementally/progressively?
Ann: Mineral Resource and Ore Reserve Update at Tropicana, page-6
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