Where does it say they are producing at a rate of 40Kt right...

Where does it say they are producing at a rate of 40Kt right now? That's their GOAL not their run rate.

Have a good read of the last two paragraphs of their first production ann with my comments inserted as [WUG:]:

We are very pleased with what we have seen to date. The plant is performing well [WUG: well means mediocre otherwise they would say something more positive] with high-grade production ore and, clearly, if we can continue [WUG: why couldn't we continue? Doubts here?] to put similar material through the plant on a relatively consistent basis[WUG: so we aren't consistent now are we?], Cascavel will be one of the highest grade gold mines to come on-line anywhere in the world in recent times. However, we continue to caution that because of the nature of the mineralisation, there will be variability in the production grade as we progress through the different stopes,” he said.

“Although a modest beginning with regards to size of production[WUG: how long will it stay modest?], the Cascavel system is certainly capable of delivering substantially more material than our current mine design limit of around 150 tonnes per day. We are now working hard on hitting our initial nameplate tonnage at Cascavel and continuing to demonstrate the system’s potential for growth, through both drilling and the work that is underway at Cuca, a parallel gold lode sitting beneath Cascavel.”

So after a very mediocre ann on first production then a 1/2 that said absolutely nothing more, we are here today with no more information and a SP that is 40% off. Let's get real here.