Over the last couple of weeks there have been a number of people posting and suggesting that TTY only has enough ore to mine for the next 2 years, meaning that it will pay off debt and then run out of ore. I thought I would take it upon myself to point out that this is incorrect.
As stated in the presentation that TTY made at the NT Resources Week a couple of moths ago: "Frances Creek currently has 10 million tonnes of inferred and indicated resources of which 2 million tonnes are inferred and 8 million tonnes are indicated."
10 million tonnes mined at a rate of 2 million tonnes per year results in a 5 year mine life.
On top of this TTY has the Mt Bundey and Yarram projects, both of which are highly prospective for iron ore.
All the best to holders....
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