Not likely as conversion had already started back in December...

Not likely as conversion had already started back in December 2021. The Dec 2021 Qty stated

I'm more hopeful that the 2 x FeSi being converted to SiMn should be completed during this current quarter and can then be started. This would allow other SiMn furnaces to then be closed for maintenance with no meaningful loss of production. It only took about 6 months when they converted 6 x FeSi furnaces to Mn alloy furnaces back in 2016 and 2017.
The conversion from FeSi to silicon metal has been put down for a 12 month conversion, hopefully it can be accomplished quicker than that.

" Just a thought. Full capacity also may mean 75% output still as the remaining 4 furnaces are not in production mode and may be classified differently for reporting purposes"

Yes, the report that OM Sarawak is in full production will mean that 12 furnaces are still in full production. There must be some pressure on OM Sarawak to get alloys out the door considering the problems elsewhere.

I'm surprised the Annual report didn't come out on Friday, I'm curious to see any changes to the top 2o.

"not sure what the catalyst will be for real value or for the SP suppressor to piss off!"
Yes, its about time to start seeing some true value, when I look at some other stocks that hardly make any money with 6 x market caps, it doesn't make much sense.
Even if OMH makes as much as 2021 H2 without the Mn ore loss then we should make $100 million profit for the 2022H1.