Ann: Quebec Rail Contract Signed for NAL Shipments, page-23

Interesting as well that each ' BULK ' rail car on average can carry around 115 tons each with your average ' Bulk ' carrying trains carrying around 3,200 - 3,500 tons in total.

So 110 x 115 = 12,650 tons ...which averaging down would be around 4 round trips to Trois-Rivers with those 110 ' Bulk ' cars.

So that's around C$3,399 per ton haulage to PORT at first glance.

However , and by my math , the above figure is way to high on a per ton basis , so in my mind , this ' Fixed Price ' bulk tonnage haulage contract should be more like ONE QUARTER of that cost , and therefore around 50,600 tons of spodumene .

And the contract would have to be ' Fixed ' right.....for a set volume of expected spodumene quoted by Sayona. Otherwise they wouldn't have agreed to this $43 million contract.

So for me , it looks very much like what Sayona expects to produce between now and perhaps end of June 2023. Then again , if we were to HALF the haulage cost per ton again to around C$425 per ton , we would be looking a around just over 100,000 tons of spod shipped to port under this assumed ' Fixed ' priced contract.