Firstly, it is a cashflow statement(rather than an accrual statement) so I expect that some initial costs from the March quarter in hiring and having staff available were included in the June cashflow statement and they had basically run out of funds in early March and so had to undertake that entitlement issue that month and funds from it only became available at the end of March so I expect that contractors such as our preference shareholder weren't paid until early April thereby boosting costs in the June quarter to above a normal level.
Secondly, it should be a very cheap operation to run when you are only processing stockpiles without any mining cost and so your margin should be a lot higher even though the ore grade is lower.
We shall see.
Sep23 quarter predictions, page-4
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