is inl dependent on high zn prices, page-42

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""Let's not forget that two-thirds of the first two years of production was pre-sold at the very height of the zinc price. Much credit is due to the INL management for that. The money for the polymetallic project is as good as in the bank. "

Hi Ron, is this true? Fantastic news if it is, where did you hear it from? Thanks"

The presentation at the AGM (subsequently released as an ASX announcement dated 15th Nov) stated:
"Off-take arrangements in place with Chinese smelters:
a) 20,000 tonnes per annum for three years,
b) 20,000 tonnes per anum for two years

Further three-year 5,000 tonnes per annum contract under negotiation

Remainder of production to be sold at spot price."

So 45,000 tonnes of the annual 65,000 tonnes was pre-sold at a time when the zinc price was much higher than it is now, and a further 20,000 tonnes was pre-sold at that time for a further year after that.