a big 'thank you' to the sp depressors, page-24

Jantimot ! I also would like to know the full detail of the offtake agreement. I would be surprised if the discount to spot price is more than 10% but as you say we wait to find out.

Remember they are only getting 60% of production guaranteed but have offered to pay spot price for the other 40% at CDU,s discretion. I believe they are more interested in securing supply than they are at getting a huge discount.

On the glass half full side of the coin even if we issue another 22m shares at $3.80 the mine will be fully funded debt free with only 200m shares on issue.

I personally would prefer to sell 60% of the product at a larger than average discount than getting full spot price and having 300m or 400m shares on issue so I think you need to give the company some credit for getting to this point and still owning 100% of the project with no debt and a maximum 200m shares on issue.

Look how many shares OZL have - perhaps you can tell me another explorer that has gone through to mining with only 200m shares on issue ?

Cheers Hoot