Glass half-empty view ...., page-2

All fair comments fourdollar.

I'm taking the announcement as a positive because, although you are likely correct that nothing has been signed yet, an offer made to the company for a long term offtake agreement is a good step forward.

We will need to see the terms of the agreement in due course. If it is a long term agreement at a reasonable price for most of the Tasmanian output, then the company will be very substantially de-risked.

While I was personally happy with the Noble agreement when it was announced because it reduced risk, if the company was able to sign a long term off take agreement without Noble getting a cut then that should be more profit for us and hats off to the company for having the confidence to go it alone.

I note your comment about the delays meaning the company could be short of cash. It'll be clearer in the quarterly whether that's the case and not long to wait. It's possible that the long term off-take agreement comes with an upfront payment, and alternatively, if an offtake is signed, the company should be able to raise debt finance, if required, rather than a dilutionary cap raise.

All will be revealed in due course. Cross fingers that the company locks in the deal and gets the first shipment away in a couple of months.