Ann: CYM and Glencore Announce Commercial Strategic Partnership, page-14

Not sure about that@Deme.

The offtake agreement isn't the funding for the cathode plant restart as Matt set out in his interview. It's working capital.

The good thing about this deal is that it will given a financier for the cathode plant the surety that the material has a customer. That's important, especially the customer being Glencore. I don't think Glencore would have put the time into agreeing to this deal unless they really though it was a goer.

Matt has said he'd prefer no CR. Doesn't mean there wont be, but if they can complete the first stage restart study soon and put it to the market, we might have funding sooner than later. We now know why this has been delayed.

Smart play by Glencore, planning for the copper market for the next decade. CYM have excellent copper assets. Fits with Glencore's plans perfectly.

All good signs.

Cheers