I initially thought the same thing so went back through all the...

I initially thought the same thing so went back through all the releases. First mention of the credits was the PFS update in Dec2020. Nothing concrete in any of the off take agreement releases.
Last mention I have seen was Sep q quarterly " phasing in of substantial smelter credits for low impurities anticipated from Q1 2022"

Not trying to rain on anybodies parade, just trying to keep it real because been caught once by the hype, now its show and tell time for me.
Phasing in and anticipated. Expectations seem to be they will be. Room here for disappointment .

One would hope that Mar q will show 3 months of nameplate production and confirm normal quarterly operational corporate costs.
I hope/ expect it to provide a baseline as to what a fully operational annual should look like.
From that you can work out, mostly, what is required to produce breakeven/ profitability.
First to admit there are 2 or 3 variables that we won't know, and may never know, but we will know what the combination of those variables is.
If we have volume, currency, benchmark and cash receipts we can work out what a combination of FOB/CIF conversion and grade discount looks like.
I would expect that they will state whether credits have been included or not because they have released that they anticipated they will be, so either way need to confirm one way or the other IMO.