Ann: Update on offtake MOU-NTU.AX, page-17

This from the original MOU off-take announcement:

The MOU includes the pricing mechanisms that will be
reflected in the final sales agreement currently under negotiation. Also included in the MOU are
the payment terms that will be reflected in the final sales agreement which enables
Northern Minerals to model the pilot plants revenue and cash flow in more detail.

http://northernminerals.com.au/wp-c...-Minerals-progresses-offtake-negotiations.pdf

So what is the pricing mechanism of the MOU you may ask.

The pricing mechanism is based on 3 month average weekly pricing following the timing of the monthly shipments,
referenced from a bureau established by professionals within the metals industry with the goal of providing comprehensive metals market pricing and coverage.

Should be interesting to see what prices the company uses to model the pilot plants revenue and cash flow considering the information they require is some time in the distant future lol. No doubt revert to the fantasy REO prices they used in the DFS. Lets be honest, they did not need this MOU to model the pilot plants revenue. Its just an excuse for the company to use fantasy prices again IMO.



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