Hang on to You Seats., page-195

Simple logic should tell you that an off take agreement is in advanced negotiation. PIO are not silly. They are not about to extract pollucite till they have a sale and they are in fairly urgent endeavours to get permission to "extract a 10,000 tonne bulk sample", with permission granted to increase the amount of the "bulk sample" to 15,000 tonnes (company announcements) David Crook at his last presentation said that they were able to extract ore under their existing permits and had only to present a mine plan which was imminent. They are not going to this effort and considerable expense unless they are very confident of finalising an off take agreement. These things take time to finalise, particularly with lawyers in each jurisdiction and bank guarantees and such like to arrange. I suspect they had a non binding agreement before they started efforts to get permission for their "bulk sample". They are not fools and are not known for spending money before they know where the return is.