Makes sense and don’t disagree that’s it’s not a hard and fast rule for all offtakes, but in this case because it was supply of a very specific amount of DSO (and 100% of it), rather than an ongoing supply agreement, I believe the idea was to lock in a price for it all now, so they could take it to the bank for the BFS later in the year. Being a relatively small amount of ore, didn’t seem too unreasonable to think they could get a secured price for it in advance.
Would be great to clarify th point with management.
Ann: Anglo American Agreement, page-30
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