The "1000 oz" shipment would have been multiple bars, not just one since the present setup does not produce large bars. There were only two small shipments last year, the planned larger third shipment wasn't sent before the end of the year because the refinery was closed for the holiday (what I heard). Don't know how much they have smelted of the backlog. You could do some calculations- If they have $5M in "inventory" in the depleted ore that has had maybe ~20% removed, then there should have been maybe ~$1.5M in the concentrate that needed to be smelted, or ~1500 oz of 65:35 Au:Ag bars after smelting. In fact, the 10K lists $1.77M in "inventories". The crushed ore that needs to be re-extracted probably is not included in those numbers. Current rate of production is 50 tpd and 6 gpt, that's 10 oz Au per day, or 300 oz/month. At 20% recovery, that's 60 oz/month, or ~$100k/month. These numbers are back of the napkin calcs based on the latest figures.

As explained in the 10K, any concentrate or dore in inventory is valued at the lesser of street value or what it cost to produce it, so we don't know what the actual value is based on that $1.77M number. It may be low.

At the moment there is no money going to GHDC, the rent is being paid in shares (bone of contention). Any royalty to GHDC at the moment would be minimal.