Ann: Coal Off-Take Finance LOI and Maiden Coal Sale, page-6

How do u like them apples:


Cokal will receive funding equivalent to three months (150,000 tonnes) of coal sales, totalling approximately
A$25,000,000 (the “Initial Prepayment”), to be repaid by Cokal via the delivery of ULV PCI coal. The Initial
Prepayment will be split over three monthly tranches, with the first tranche to be received by Cokal by 27
December 2017, resulting in the maiden 50,000 tonne shipment due three months later in March 2018.
During the term, Cokal shall deliver a shipment of coal per month, each weighing 50,000 tonnes, +/- 10% at
Cokal’s option. For March 2018 and April 2018, the variance can be +/- 50% at Cokal’s option.