Morris Minor Owners Club

I replaced the spare from my 60 Traveler. I think it was time. It was a 5.20-14, and looked unused, plenty of tread etc.
I found this branded into the sidewall.
Also, I presume that this code indicates it was manufactured in the 11th week of 1970. Am I correct?

David
Correct. Also " correct decision " disposing of it , at nearly 48 years old , only one adjective describes it.... dangerous.
Bob