They had 1.2Mwmt in ore stockpiles at 31Mar and expect to sell 1.125Mwmt in the June quarter and thereafter at the rate of 1Mwmt/quarter.
I would expect them to maintain up to 75% of a quarter's sales, that is 0.75Mwmt in stockpiles over the remaining life of the mine. Most of the cash benefit from the stockpile will come in the quarter after they cease mining in 2026 or beyond.
They keep talking about 'remaining mine life' in their commentary that had lead me to believe that they are planning on just mining the stated reserves but if there is potentially an additional 16Mt of high grade ore sitting in resources that can be economically mined without impacting the structure of the seawall then that of course changes the value/quantity of the remaining ore to be mined/sold.
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