Last Shareholder Update, page-9

I would also like to test Managements assertion that tolling agreement term sheets arent worth announcing to the market. Either they are so confident of closing existing deals that are bankable they dont think its worth mentioning (then why sign the term sheet in the first place?) or they have signed so many they cant be announcing all of them.

To me it would provide assurance them having signed a term sheet with a bankable offtaker, particularly as the only one they have announced with VGS is hardly investment grade. It would at least provide an indication of the nature of the customer they are talking to.