You guys are getting confused between what the total project...

You guys are getting confused between what the total project resource is and what is planned to be mined. Refer to the Scoping Study or Stachan Report on TTRs Website.

Of course you could dig up every last ounce of gold, silver and base metals that has been identified statistically (just dig a big enough hole) but this would not be cost effective. The key thing about mining is to make the project as profitable as possible by basically targeting the ore (of suitable grade - price sensitive) that is easy to get at with the least amount of waste material in the way. With open pits at Kundip it is more efficient for example to have multiple small pits rather than one huge one because the ore is primarily concentrated in narrow high grade veins. Then as you get deeper of course the open pit has to get wider (more waste) so you reach a stage where you go underground which can target higher grades.

You can never get every last "statistical" oz because it is so dependent on many factors - metal prices for example.... if prices a high you can probably get away with mining some lower grade areas but if prices are low you need to focus on higher grade areas. Then of course there are some losses along the way during processing --- you can't get 100% recovery.

The bottom line is that the initial 7.5 year mine plan (from the scoping report) is estimated to produce $830m (from the $2.5B total resource) from 370,000oz gold, 3.5m oz silver, 30Kt of copper plus some lead & zinc.

During mining further drilling will occur and add to mining reserves and resource. Some of the ore that is not mined initially also may be proved up with drilling and be recovered through revisions to pit design (e.g. Harbour view Northern extensions can be possibly be mined by enlarging and changing the shape of the pit. Most likely where deposits extend at depth these will be recovered more efficiently via underground methods.

We should be all confident though that this is not just a 7.5 year project with further discoveries like Railway, Queen Sheba etc making Phillips River a 20 plus year venture.

Hope that helps you guys a little not that I really know much about mining.