Capitulation, page-14

I think you will find they are not stockpiling. Post from (not so ) silly party 31/10/16 20261204 refers

" At approximately 400,000lbs production from the Lance Projects 2017 calendar year is now planned to match delivery commitments under existing term contracts, thus maximising margins on a per pound basis. The weighted average  delivery price for Peninsula's five long term contracts over the next 10 years is US$55 per pound."

So I read it as they are going to produce what they are contracted for currently and not producing excess into the spot market.

If they have delivery requirement & are short in production will get it off spot.
Can't see them producing (& holding material) only to fulfill entire contract from spot.

This is more just in time production to meet market.
There is no benefit producing more that what is to be supplied.

They are still setting all the ground work for a fast ramp up with well hole drilling & preworks done before the winter sets in. So are ready for when S2 fit out (& streaming agreement is signed off).