Ann: COPPER CATHODE OFFTAKE AND US$50 MILLION ADV, page-2

re: Ann: COPPER CATHODE OFFTAKE AND US$50 MIL... On the face of it looks really positive.

Had a quick word with company they are confident that this new facility will get them through to completion of Stage 2 with the remainder funded out of cashflow.

So sounds like dilution risk greatly reduced.

They declined to comment on exact nature of off-take agreement (whether fixed price or LME based floating price), but it is 8% - falling to 5% of production and assuming it isn't ridiculously discounted should still be able to use LME as a guide to revenues going forward.

Hopefully some dopes will "sell the news" and I can get some more around 37c.