Dec Qtr Predicitons, page-104

Declaring Commercial production as from 1July20 does make a massive change to the Statutory half yearly and annual accounts that NCZ will be preparing - these accounts will actually be meaningful.
One of the items that might change is the treatment of concentrate held at 31Dec and 30Jun - up to now we have been told each quarter that production and shipments were of the same value and a value for any concentrate on hand at 31Dec and 30Jun did not appear in the Statutory Accounts. There must be a possibility that production for the quarter to Dec will be higher than the shipped amount as the last shipment left 20Dec - there is also the possibility that they will count this concentrate in their warehouse at 31Dec as a contracted sale as is their right to do so once the concentrate reaches the warehouse and they have a buyer for it - I note there was a shipment of 8kt to Risdon, Hobart in early January.