Ann: Quarterly Activities and Cash Flow Report March 2023, page-2

Can someone explain what is going on?
Production of concentrate for the quarter at an all time high. But cash receipts totalled $772k. Last quarter was less production but receipts of $2.281m. So x3 revenue on less production.

The reason given was:
"as a result of timing differences between invoicing and actual shipment of concentrate around the calendar year end"

Does anyone know exactly what this means?

This explanation doesn't exactly say much.
 Q4/22 and Q1/23 customer receipts in aggregate $2.401 million
 Q2/23 and Q3/23 customer receipts in aggregate $3.053 million (representing a +27% increase vs.
Q4/22 and Q1/23)

apart from they had less revenue this latest quarter than they did in the last 6 quarters.....

Q1 2023- Receipts $0.772m -Jan/Feb/Mar 2023 (Q3/23 in the above)
Q4 2022- Receipts $2.281m -Oct/Nov/Dec 2022 (Q2/23 in the above)
Q3 2022- Receipts $1.425m -July/Aug/Sept 2022 (Q1/23 in the above)
Q2 2022- Receipts $0.976m -Apr/May/June 2022 (Q4/22 in the above)
Q1 2022- Receipts $0.822m -Jan/Feb/Mar 2022
Q4 2021- Receipts $1.209m -Oct/Nov/Dec 2021
Q3 2021- Receipts $1.802m -Jul/Aug/Sep 2021
Q2 2021- Receipts $0.615m -Apr/May/June 2021
Q1 2021- Receipts $1.035m -Jan/Feb/Mar 2021

So based on the quarterlies this March quarter was worse than that of 2022 and 2021........ WHY?

Not to mention a highlight from the quarter ended 20 September 2022 was
"Debottlenecking of slurry pipe and trials of additional crushing capacity ahead of Gravity Plant deliver further improvements."

And a Highlight from this quarter
"Upgrading of slurry pipe connecting crushing plant with gravity plant set to deliver improvements and trials of additional crushing capacity continue to deliver further improvements"