Ann: US$10m Strategic Investment Approval Received, page-184

My thoughts on this are that being the offtake contract is being formalized into a binding contract that will have to be followed legally. So Carrinho will need to have its minimum numbers pretty accurate other wise they may get stuck with excess stock that they would be liable to pay for.
I would think there is some back and forth as to what's in the written in the contract. Therefore the lawyers from both teams may be scrutinizing the contracts with a fine toothed comb.
It's annoying for investors waiting for this, but Carrinho will be business savvy enough to know the legal implications of not getting this right from the start.
I would also assume the bank finance will be completed after the offtake contract as the bank Will obviously finance the project with a smaller risk.
These are my thoughts on the time it's taking. And it's crunch time for both companies really to get this project up in time for the October 25 planting season