foster stock broking presentation, page-19

Hi Focca, yes I misunderstood that as well

Ganfeng always had 50% offtake of the whole project for LOM including stage 2, 3, 4 etc
They earned the other 50% of stage 1 with the finance.

Simon has in the past said that Stage 2 offtake was open, I suppose he really meant the remaining 50% of stage 2.

I haven't gone back to the Prospectus or original Ganfeng agreement to check, but apparently that original 50% was not stage specific, I just assumed it was.