DC really had no choice but to hold off on offtakes given receding prices. He had confidence I believe, as opposed to hope, that prices would increase due to increased demand and borderline loss-making China production. this perception on future pricing was clear in DFS and last ASX announcement on progress.
Given the China export ban he now has a catalyst albeit maybe sooner than he expected, so I would prefer he bides his time now, a little, even if it means DFS timeline not met, to get absolute best partners for downstream and best pricing now with offtakes as we have the negotiating leverage and there’ll be a lot of competition to get RNU supply from tier 1 partners.
Too much value squandered by rushing into offtakes just to meet DFS timelines.
is DC a poker player? He’s played this perfectly so far….
