Ann: Ark Secures Toll Treat Agreement, page-2

OK my reading of this is that some of the guesses people made here have turned out to be correct.

On the bad side, no mining (= no cashflow) until March next year.
On the good side, rather than the 55/45 arrangement, AHK gets all the profit. At least that's how I read it. Surely that's a good thing. If there's something I'm missing please let me know.
On the unclear side we don't know what the cost per tonne is: in the Aug 15 ann it's $30/tonne. You would expect it to not be materially different but nothing in the ann says one way or another as far as I can tell.