"Worse from here" Not quite sure how you conclude that. The...

"Worse from here"

Not quite sure how you conclude that.
The lower margin was NOT due to lower pricing but due to the balance of mining and processing costs AND driven by the high strip ratio and volumes of relatively poor quality ore.
BUT the key here is that the yield optimisation program is almost complete; we have new (better quality) ore to process from this month.

So, processing costs per tonne of produced spod concentrate will drop SIGNIFICANTLY during this Qtr, as recovery increases to circa 75%.

Going forward, the trend should reverse sharply due to this new mining zone and increase in recovery.

People can buy/sell emotionally based on the past or look forward and consider what is actually likely to happen from here forwards.
The three stooges here today will focus on what has been, whilst the sensible investors are only concerned about where we are going.

I hope there is an emotive sell down today as I am still in buying mode. I'm buying for the performance over the coming years, not some short-term historic performance with very particular operational and production constraints.

Imo improved strip ratios, better quality ore and the improved processing recoveries will more than offset a softer spod price in the current qtr/half, so I'm far from concerned.