Ann: Binding Offtake Term Sheet Secured, page-87

The way it is spoken about makes it sound like they have secured an offtake. They have agreed upon a term sheet setting out some solid and moving terms for a binding offtake. The term sheet now signed is “executed” means that both parties now go to legal phase of setting the actual binding offtake agreement based on the terms in the term sheet.

It is not a fe de compli but there is a very very very high probability it will progress to binding offtake once legal are happy with the wording of the offtake In all its glory. This will take a bit of time. Can do your head in.

So I suppose the answer to the question of have they secured an offtake is, not yet but it’s very very likely the binding offtake will come to pass as a result of the term sheet being in place.