Ann: 31 March 2020 Quarterly Reports, page-8

A very BUSY Quarter for MAT. Well Done. Can Paul Poli or someone comment on the following.
Reported Red October production for the March Qtr was 15,827 tons @ 3.74 gpt at recovery rate around 89% and gold price $A2,578.
These numbers result in a potential production of 1,694 oz Au representing a value of $A4,367 million.
The Qtly Consolidated Cash Flow Report, reports sales of $A1,149 million, which is $A3,218 million less.
Presumably this mined gold ore is stockpiled at site or at Treatment mill. If so the bank balance of $A1,611 at March end may be in for a significant uplift once the ore is treated.
Is this analysis correct or have I got it wrong??????
Regards to All in these difficult times. KOM