RE:OfftakeNo dilution and a floating market price at delivery makes this a home run. Cargill is a trusted name and big player. Selling it at the 65% price instead of the 68% price is no big deal. 4 million tonnes at $200USD for 4 years is a $3B+ purchase order. That offtake may change with the iron ore price moving forward. Discount all you want for time value, BKI is wildly undervalued. Maybe less so after today.