I thought that as well, but they report X tonnes produced (i.e....

I thought that as well, but they report X tonnes produced (i.e. assume we use this figure to calculate costs for the period) and Y tonnes sold (i.e. use this figure to calculate revenue).

The revenue figure is consistent with the tonnes sold. It's the expenses that are bizarre, and completely unexplained, because the table summarising their expenses per tonne does not equal the expenses incurred... did we only pay for the ore sorter this half? In which case, last year's annual report severely inflated the position :S

I assume there's an accounting explanation to this anomaly. While the SP has suffered, it has not crashed as if both Renison and Nifty had actually reported an underlying loss. If Renison is loss making in these conditions, then it is frankly worthless - the conditions don't get much better.