Commentary around the low net sales revenue of $40mil will centre around the fact that they only sold 45kt of the 57kt of concentrate they produced in the quarter - the reason being that their transshipment vessel was away in Singapore between September to November and they weren't able to arrange enough shipments in December to clear all the concentrate, so on my cals they had around 19 or 20kt in stock at the end of Dec having started the quarter with 7 or 8kt. All of the Dec stock was shipped in early January.
NCZ Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
