Running discussion on SP, page-31646

Offtake pricing will be based on some formula with fixed basement and ceiling prices.....otherwise it won’t stack up for the financiers. What that formula is made up of will likely have significant input from the funders........and it takes time to work through agreeing a formula that works for AVZ, the Offtaker and the Funders. It is a complex negotiation, made even more difficult by the fact that the parties are unable to meet as a group face to face ....... and there will be multiple funding partners that need to agree.

Hope that helps.