RE:RE:RE:RRR - A Great Video SummaryA pitiful remnant from the Ainsworth/Oversight fiasco. They couldn't take over the discovery, so the only way for them to fight back is posting lies and innuendos here.
They have had many many user I.D.'s over the last several years.
quakes99 wrote: Who is this Overwatch idiot who constantly posts lies and smears that have no basis in fact?
In order to get financial backing for a uranium mine project, a company needs to have Offtake Agreements that de-risk a mining project so that it can qualify for bank loans to fund construction.
At present, Fission is the ONLY uranium development company in Canada that has managed to secure an essential Offtake Agreement with a customer seeking access to production. In this case the customer is CGN, who invested $82M into Fission to secure an Offtake Agreement for 20% of production for the life of mine at PLS.
Fission is WAY AHEAD of Denison and NexGen with the path to production eased by the CGN Offtake deal.
The Agreement is priced at Spot minus a 4% discount. As this was a non-brokered agreement, Fission was able to save the 4% broker commission when setting up the deal, so they passed those savings along to CGN as a sweetener to seal the deal. By doing that, Fission sees no loss in revenue on invoices that would normally incur broker fees.
Today, Spot price is ABOVE the Long-Term price, and is expected to be well above Long-Term price by the time PLS goes into production, securing a nice premium. Dev and the Board recognized that, just as happened in the last bull market, Spot supply is drying up which will force the Spot price higher than Term, so choosing to reference delivery price to Spot was a stroke of genius.
The Offtake Agreement also has a clause that allows CGN to increase their offtake by another 15% IF at the time PLS goes into production there is still 15% of production available for them to take. If other offtake deals and long-term contracts have scooped up the remaining 80% (which is what is expected) then they would not be able to expand to the full 35%.
The additional 15% Offtake, if available, would be sold at commercial rates at the time of production (to be negotiated).
All of this info is filed on SEDAR, including all the terms and conditions of the Offtake Agreement. You don't need to listen to the lies and misinformation posted here by Trolls. Go to SEDAR and read the facts for yourself.
Good luck with your investments... and report the Trolls to Stockhouse so they can be removed. ;-)