So the major differences between C1 costs and what I would term...

So the major differences between C1 costs and what I would term cash-out mine operating costs for NCZ would probably be: 1) C1 costs are reduced by the silver revenue, currently around $A1mil per quarter; 2) C1 costs don't include royalty costs - NCZ has two royalty costs, one held by a private entity being 2% of NSR, that currently costs NCZ around $A1mil per quarter(2% of $A50mil) and the Qld govt royalty of around 3.75% of NSR per quarter costing NCZ $A1.87mil - this royalty is currently cash-deferred but still payable in the future and obviously has P&L effect(after Commercial Production declared); 3) C1 costs don't include Interest paid on Varde loan of US$858k($A1.26mil) per quarter being 8%pa on US$42.9mil.
So I'd say the C1 costs quoted by NCZ are around $A5mil under the actual mine operating costs each quarter and they obviously don't include exploration costs, staff costs and Corporate/Admin costs that were estimated by NCZ to cost $A7.2mil for the Sept quarter. CapEx or development costs are also not included in C1 costs.