March 2022 Quarterly Results, page-72

You are absolutely right @kovit about the last quarterly report when expectations were very high and lets face it when expectations are high it is easy to be disappointed. It would not come as a surprise to see similar themes from the last quarterly appear in this weeks quarterly:

+ Li Nina related weather events
+ COVID impacts on absenteeism
+ Production again expected to be higher in future months
+ Pricing is from prior periods so the $350+ prices aren't reflected completely in the quarter
+ Some sales are actually from delays so the price is lower
+ WHC has some fixed price customers that continue to enjoy substantial discounts to the current spot prices
+ Issues at the port
+ Increased diesel costs

There are going to be some disappointed people if everything isn't perfect in the quarterly announcement. A lot can be learnt from reading previous quarterly reports especially that not everything sold is at the current spot price.