Actually the off-take process was long and drawn out, first Hunan signed an MOU which fell through, then CITIC eventually signed an off-take agreement but the GFC got in the way.
See relevant announcements below:
Feasibility Dec 06
http://www.asx.com.au/asxpdf/20061204/pdf/3zy1ckn2c7400.pdf
Mandate for finance Jan 07
http://www.asx.com.au/asxpdf/20070105/pdf/310dqln8jzmf80.pdf
Hunan March 07
http://www.asx.com.au/asxpdf/20070313/pdf/311fp8rfg3gfl8.pdf
Hunan withdraw April 07
http://www.asx.com.au/asxpdf/20070427/pdf/3124gvdjd5jwbk.pdf
Traditional owner agreement Oct 07
http://www.asx.com.au/asxpdf/20071025/pdf/315c0kd016v6jg.pdf
CITIC sign off-take agreement March 08
http://www.asx.com.au/asxpdf/20080312/pdf/317zpvy4yz1026.pdf
GFC
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