Prepare for PHES take-off, page-33

The agreement is a bit interesting in relation to the connection agreement, which I presume is akin to a take off agreement.

Getting a connection agreement isn't a pre-condition it seems to be simply a milestone for the third payment instalment.

Once paid those instalments are ours to use and keep. The accounting standards treat them as an option payment and require them to be held in the balance sheet as a pre-payment liability untill the contract completes or falls over for some vague reason.

So if all else goes well we will have $10m from AGL and be happily going deeper underground while they sort that out.