let the cashflow talk, page-27

I guess the positives for me is that regardless of the Silica content NCZ has continued to sell its product into China and Europe. Additionally they've been able to:

- Increase the flow rate nearly from around 5Mtpa up towards the Phase 1 target of 8Mtpa, at the last update in January it was 7.3Mtpa
- Grading has been consistently been between 47%-52% since day 1 with incremental improvements to occur over the course of the year.
- Silica grading is within specification at 6.5% SiO2 but has been as low as 3% at times. I'm sure this will smooth out with each day of production.
- Zinc recoveries are up around 40%-45% at the latest update.

Things should continue to improve over the life of the project. And with Zinc going on a tear once again NCZ probably looks reasonably cheap.