Heavy mineral concentrate appears to be carried at NRV per note...

Heavy mineral concentrate appears to be carried at NRV per note 13. That would indicate a write down from cost. Have they taken an inventory NRV writedown and then recapitalised this back into Inventory (via note 3 - operating expenses) - i.e. gross margin loss when later sold? Can't see any write down in inventory in P&L and given the amounts aren't sold wouldn't expect to be seen in PPE as part of net proceeds from selling inventory during a commissioning phase?

DYOR opinions and observations