Management either have rocks in their head to sign 'binding' off takes with out the project being fully permitted, essentially putting shareholders equity at risk if they fail to receive all approvals or the 'binding' off take isn't really that binding if the company / purchaser have an out clause in the case of permits not being issued.
Iam more than comfortable with James' process here.
Ann: Additional offtake for dry-processed halloysite-kaolin, page-103
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Change
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