I was not surprised to see that it will take a month from the...

I was not surprised to see that it will take a month from the first shipment to the second. This is very normal, large processing facilities are not just switched on. The units will be started up numerous times at different low flow rates to ensure that all units have nothing unexpected from design. Once the units are all checked to be working correctly and efficiently then and only then will it all be switched on to start operating continuously.

This is the whole point of commissioning process. It is important to follow these steps as nowadays most plants are designed in one country, fabricated in another and built in a third. Building it is one thing, making sure it does what you expect is something entirely different.

I do not have much experience with magnetite processing but personally I would be spending 3-4 months commissioning a plant before ramping it up to 60-80% and building to nameplate from there, especially for something you want to operate for 30+ years. There is too much process risk involved in pushing plant and equipment too fast too quick before you even know how to fix crap that goes wrong. Production will not be high in this early period, units are brought online typically in isolation if possible before the whole plant is fired up. This will give the engineers the opportunity to understand their plant and areas of it without the risk of too many things going wrong and losing control of your plant.

I hope the market views this very normal and IMO expected process as terrible and the shares come back to 20c again and I will happily top up my stake and wait for the Q2 and Q3 reports, they will show the potential in GBG after having 2-3 months fully operational and cashflows coming through the door. There are no reactions going on in those processes so I expect nameplate capacity should be hit with no issues whatsoever apart from some material handling hiccups.

Anyways, the most important thing I took from the quarterly is there is plenty of cash on hand. With the cash on hand no future dilution should hopefully be required and the company will cashflow the upgrade to 16 mpta. I think the future is bright with GBG, short term costs will soon be offset with receipts from the 1.4 Mt of ore already shipped, continuing DSO production and magnetite production coming online shortly.

Just my thoughts......