Chill!, page-24

"my understanding is that the pre -payment will be used as part thereof the capex so we will differ on that until clarified by the company."

It's irrelevant. If they would use the $5m as part capex then the first $5m worth of production will not be paid for as it would be flagged for Gunvor.

You'd think a CEO on $1m per annum can find a better deal. Isn't that what he is paid for, to maximise value? Allegedly Isabel is worth tens of billions. If true then there should never be an off-take with a commodities trader that is merely "we buy your ore at a low price and sell high, thanks". RM should have no problem finding end users lining up to take that "extremely valuable" ore off his hands including a nice capex component.

He spends all this time flying around to nickel conferences and meeting brokers, why not fly to meet some smelters here and there and do some actual work? But in the end all he got is a vanilla off-take with a commodities trader.

It doesn't add up, even blind Freddy can see that

In the sports industry prodigies get signed as teens. Manchester United signs 12 year olds to their academy to tie them up.
If Isabel is the crown jewel of nickel laterite assest then surely RM can do better. He's only had, ehm, 5 years