ASX Today, page-15264

Willing to bet:
- those 4 TOs you waited and waited to get were all in the one company;
- that company needed those offtakes to demonstrate to the sovereign entity that actually owns the resource that it is able to pursue mining of the resource;
- that same company needed those offtakes to help raise further funds in CRs to continue keeping doors open and allow it to further develop its business;
- that same company didn’t have $450M in the pocket prior to selling in OT arrangements;
- those OTs have at least 5 year periods of a fixed pricing structure with review to new structures possible after those 5 years (note I’m not saying a “fixed price” but rather a “fixed pricing structure”;
- those OTs are not take or pay arrangements and allow the OT partners to choose to take or not (so very similar to many other OT arrangements with those same buying entities).

If I’m correct, could you tell us how many of those circumstances apply to LTR? (Hint, a very poorly skilled woodsman could likely get it right even if they did hold up all of their remaining fingers).