There was no NCU shipped for Last Quarter, and the Assays for the June Quarter were pending.
Here is a little nugget in the annual report.
" Commissioning of the onsite Ore Sorter and reduced penalties on shipping native copper with high levels of magnetite and sulphide rock.:
I read this as when the NCU is received buy the buyer, they need to remove the "magnetite and sulphide rock". which reduces the amount CDU receive.
So stock piling until the Ore Sorter crushers are in, is going to reduce the penalties. Could we attribute the write downs in inventory to the "penalties".
LM2 pit is higher grade, and the current grading is still 1%. If the NCU is being stocked piled at a higher % of mining, and the Cone crushers and process reduce the NCU magnetite and Sulphide, then second and third quarters will overachieve and balance out in the 4th quarter to a more consistent production rate.
This is not investment advice, just some observations.
