Most longterm contracts would be referenced to benchmark prices as opposed to spot IMO. The Company is looking longterm and for strong offtake partners that may help with financing down the track , that usually involves a bit of a tradeoff for longterm security.
The good news is contracts are rising along with Spot pricing so we will dealing from a position of strength.
The difference between auction prices and contract prices for PLS for example are quite large as their original contracts were done in much different times, we are starting from record prices and in much better times...
Cheers Whisky
Banter and general comments, page-15696
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