Ann: Binding offtake and funding agreement, page-232

$4.8 mil loan to mine hmmm.
Problem is with caesium is who you going to sell it to?
We all did the research for months and all we could find was Cabot, John Downs and dodgy Chinese suppliers.
Surprise surprise, PIO do a deal with Cabot.
In and of itself that is an excellent result for PIO. I'm really pleased for them and holders.
But we investors have zero idea on how to value this. Zero info in the ann. regarding that.
PIO has a resource that it can't fully fund ops on and can only sell to a handful of companies in the world.
Cabot hold more cards than PIO do at this point. Cabot do have the under lake mine issues, but do have the African source still.
We wait for the JORC which will be nice.
I'll wait for more concrete details on the financials before I go back in on PIO.
My guess is that Cabot is getting a great deal, and PIO are letting them have it relatively cheaply while hoping to make more on those other minerals we have heard about, and hoping that the deal helps PIO kick on in more general terms. PIO is also hoping there will be more Caesium than currently estimated, making it more profitable.
Impossible to call at this moment.
1.1c and no financials and I'm back in on spec, but no way it will hit that.
Otherwise I'm waiting for financials and definite timeframe and mine planning details. PIO has never mined before as far as I know, so they have plenty to learn, but a small operation like this is a great opportunity.