To my mind the report only contains two new pieces of...

To my mind the report only contains two new pieces of information - both positive:

1. "The operational team at the mine site have increased production rates within or above pre-development expectations and are on track to achieve production run rates outlined in the Pre-Feasibility Study (announced 1 March 2022) during 2H FY 2022." I am not sure exactly what the PFS calls for in the ramp up phase, but simplistically it sounds like they are going to mine at least 600,000 tons in the first six months of the calendar year. At today's spot Iron Ore price, my very rough model suggests Tomby would have ~AUD 60m of cash by June to pay dividends with.
2. "The appetite within Brazil’s domestic steel market for Tombador’s premium hematite product has resulted in increased and recurring sales to local buyers." Doesn't sound like bad news