my thoughts on the remaining resources outside the reserves are...

my thoughts on the remaining resources outside the reserves are as follows
- satellite pits have much lower grade and much higher impurity levels. To me these are of value only at much higher prices that iron ore is at today.

- they should get some additional tonnes below the pit floor without too much cost. My concern is more on the western side which is where most of the additional resources sit - I would imagine there would be significant costs with waste removal and they may need to do more stabilisation work - this could costs hundreds of millions to be able to get access to the ore in meaningful quantities. The fact that MGX has not mentioned anything here suggests it could be rather difficult and may require a much higher IO price to be economic.