Potential Upside of WKT - Expandable Graphite, page-656

Are you seriously saying that an agreement to purchase a commodity that has a variable price is a dud because there is no fixed price locked in. Many DOA are done with a simple at “market price” or nothing for price. I can give an example of a company right now that has a 10year binding off take agreement for 100% of product and they won’t be seeming product for at least another 2 years with no price locked in as it will be market pricing dictating prices in 2 years time, and they are in the stages of final funding. Seems this is enough to convince some a few hundred million is worth risking.

Many BOA leave pricing open in one way or another for many reasons, to say they mean nothing because no price is locked in just not reality, look around it’s not uncommon at all, to suggest no price no deal is just bat crazy.