99.95% High Purity Manganese, page-544

Per the offtake agreement with OHM:
Trade terms will include a provision in the first twenty-four months for payment to be made on delivery of parcel sizes as small as 1,000 tonne to Port Hedland, significantly reducing E25’s working capital requirements

I think this why it was in the previous announcement, having the ore at Port Hedland should be enough to receive payment in advance (probably other terms attached) and the team was confident/certain of this being achieved.

I’ve taken the pessimistic view we don’t have much other ore on hand <10kt if this is cash flowed as having been sold but the inventory report should make it clear either way.

With the ore price as it is if they haven’t received above PFS price dmtu on the single or both shipments the OMH deal is an absolute dog and unlikely to ever turn much of a profit to fund further stages.