Ann: Prospectus - Capital Raising, page-130

I am not defending the management or spruiking the stock by any means, however, the above comment is either deliberate misinformation or plain ignorance. There is a binding offtake agreement in place with a multibillion-dollar minerals trading house, which will have verified the commodities in question for on-sale to its own ledger of customers. That's hardly an unusual arrangement.

The usual conditions and force majeure clauses will apply, as with any BOA, and it's certainly true that sales do not guarantee capital financing. But to suggest there are no sales and "no real offtake" is just nonsense.