announcement or riot. , page-63

They at one stage also had an agreement for a further 5 mil from Jiangxi.

One other point.
The Agreement based on the following key terms:
? Iron Ore from the Marianas Tailings Project will be purchased by Jiangxi from Condor ex-works (EXW) at the mine gate at a price of USD$55 per tonne.
? This price will be adjusted annually based on the Platts Iron Ore index (IODEX).
? 1st year offtake is for delivery of between 153,000 to 189,000 tonnes.
? 2nd year offtake is for between 306,000 to 378,000 tonnes.
? 3rd year offtake is for between 1.02 Million tonnes – 1.26 million tonnes
? 4th year offtake is for between 1.26 Million tonnes – 1.53 Million Tonnes.

off take of 1.02-1.26 million tonnes @cerca 12%-13%. they will use the 11mil feed stock in one year???