Ann: Australia's Newest Copper Producer Presentation, page-37

Rotatable containers are used at ports that don't have bulk handling infrastructure to fill the ships. They have the advantage of dust control and minimising waste. When there are enough containers the ship is loaded directly from the containers.

HGO/Whittam transport have more than enough containers to fill the ship and allow delivery to continue while thats happening.

It seems the take off agreement provides payment when the containers arrive at port. Freepoint's take off margin would cover a bit of inventory finance to give HGO earlier access to funds than FOB would deliver.

Each container holds 29 tonnes of concentrate.The concentrate contains circa 23.5% cu and 2.25 g /t of AU i.e. o.08 oz. The pay load is circa 6.8 tonnes of cu and 2.3 oz of gold. which at current prices would be worth circa $ 90k at current prices.

The first months production is about 350 t of cu so about 51 containers and about $4.6m of revenue.

Production peaks at 15.5 KT in yr 3 which is circa 190 containers / month and monthly revenues of with revenues of circa $17m running the plant at 40%. Hopefully the plant will be running full by then.

It takes 380 containers to fill a ship which is circa $34m.

The payment terms are excellent as they provide $34m of finance for the inventory delivered to port awaiting loading onto the ship. That would have been highly dilutive if it had to be funded with equity.