All the questions about concentrate verses contained copper...

All the questions about concentrate verses contained copper ,costs and revenues are answered in the Economic study.

https://www.hillgroveresources.com.au/uploads/downloads/447/Updated%20Kanmantoo%20Economic%20Assessment%20Expands%20Mine%20Life.pdf

In summary:

HGO have a take off agreement with Freepoint where Freepoint pay for the estimated contained copper in the concentrate when it is delivered to the port subject to a final adjustment when the actual tonnage of contained copper is produced.

Freepoint pay either at spot price or the hedged price.

The offtake charges include the costs of treatment of the concentrate and refining. I believe it is a variable cost based on the market prices at the time.. The EA 2022 offtake charges were estimated at $829 /tonne of CU contained in the concentrate.

Freepoint charge a hedging margin $250/ tonne of cu i.e. if the futures price is $13,750 the hedged price less the margin is $13,500.