I dont question QM's commitment to the deal at all. But i prefer...

I dont question QM's commitment to the deal at all. But i prefer BEZ having multiple off-take parties.


In fact, I read about the deal again last night and this is my understanding: it is a binding contract for QM to pay "up to USD $300mil" for "up to 3mil oz of gold deliveries". They dont have to pay USD $300mil. I am more than happy if they pay USD $200mil and BEZ raise another $100mil on market at $0.80 - $1 per share after DFS done, FID announced and all other works have been done. That is not much dilution at all in my book.

Of course there is a possibility that QM may sign up for another 1mil oz - 3 mil oz once the MRE is upgraded to 5mil oz - 6mil oz. You never know. The way I see is the deal is a brilliant deal for QM to make billions of dollars and so there is real rational for a further off-take deal from QM if QM can source enough money from its investors, clients, gold notes buyers,...



"BINDING CONTRACT"

What it means is whatever they paid into BEZ's drawdown account will stay there. It becomes part of the binding portion of the committed contract. QM already paid 5% deposit for 372580oz of gold delivery at REFERENCE price of USD $1900. This amount is paid, locked and done.


Every time they pay the 5% deposit, it becomes like a little seperate binding contract of gold purchase at a particular agreed price called REFERENCE price.


So, 372580oz of gold is part of the BINDING CONTRACT so far. More to come.