Ann: First Premium Quality 68% Fe Magnetite Conce, page-11

re: Ann: First Premium Quality 68% Fe Magneti... Looking at the big picture on the companies announcement:

Ramping up requires a constant increase in resource mining, crushing, separation, and polishing.
The company has not given details of stockpiles of all the above in preparation for the ramp up process.

For example:
If the company has 100,000 tonnes of 64% magnetite ready for the final polishing process, does it give details of the cost of this stockpile?
Simple answer is no, They usually only quote finished product ready for sale as an asset or product in stock in the reporting of assets. The cost of production may still be in the $80-$90 range but this cost is incurred in mining, crushing, separation and polishing stages. If they only produce 50% capacity on the final product then the cost of production and stockpiling goes up. However, the increase in quarterly costs may be in the stockpiling of unfinished product.
Nameplate - Once the nameplate is achieved then the process of mining X tonnes to produce x tonnes in concentrate can be calculated more accurately on cost per tonne.
Don't judge the announcement today as the cost has blown out on production costs.
Also I think they only quote on the finished product shipped to date as per the announcement and not the stockpiled stages of production.
Another interesting point on the ann:
"It is forecast that steady-state production at nameplate capacity will be achieved in the December Quarter. Because of the delay in achieving steady state production (previous forecast September Quarter) it is unlikely the Project will be operating cashflow positive before the December Quarter, depending on the iron ore price and foreign exchange movements"
Cash positive before the September quarter?????
Interesting.