im still surprised only 65% of the offtake agreements have been...

im still surprised only 65% of the offtake agreements have been taken, would have expected it to be 100% by now.

There are likely to be a few reasons why 100% isn't already agreed. The most likely would include:

* Production hasn't started and let's face it at the beginning there is a risk that the production equipment doesn't perform exactly as expected and volumes are lower than forecast and it may take some time for the plant to be producing to 100%. With the best of intentions it's nothing unusual for production issues to come up from day 1 for any new producer of any product. They won't want to disappoint potential customers with missed shipments.
* Keeping some production for the spot market expecting the price to be higher
* They are aware that there is a lot of interest in the product and there is no issue to sell it so they would prefer to spend their time getting the mine and plant up and running first before they worry about selling product they don't have. Don't put the cart before the horse.

It's a good time for G6M with anticipation of seeing the first shipment despatched. It's also a very risky time as well with an even a hint of production issues or delays to product being available for shipping likely to cause a bit of a sell off. If they get it right and there is a good news story next month of the first shipment being loaded and everything going as expected then there is some good upside potential here. Also very good to see the still low AUD.