Ann: Quarterly Activities Report, page-108

Exactly. So the current break even price is lower than the market price! That is impressive considering they just started up.
And the low impuritie bonus hasn't even been accounted for.

From a production cost perspective E25 is doing an outstanding job with lots of room for improvement.

The real question (and issue) is the received payment. Which is simply way to lowe for the 54Kt that has been delivered. Either there has been some sort of one off exception which could be for various reasons or they haven't received full payment.

Assuming they will be receiving payment inline with market prices (as they have confirmed they will) and the added low impurities bonus they should currently be producing at a profit.

What a chance to top up!