I am not going to argue the fact they paid 240m in dividends...

I am not going to argue the fact they paid 240m in dividends nearly decade ago.

But .... There are a few things about that you should know.
It was off sales of approximately 750M, the other 510M went were?
Proceeds were from a couple of lucky sales post gfc. Nothing since.
Everyone of TS companies has ended up in court over the deals they made.
The maximum dividend was 14c on shares that traded at 60c .... Not great shareholder value for those investors.

Dividends are return on investment, it is not Tony's good nature to pay those investors what they are entitled to.
The investors that received 240m in dividends got less that 1/3 of the profits, and probably half of what they were entitled to.... Yes entitled to, it is not TS that decides this.

Now before you call me Bipolar again, I play what is presented on facts. And until deals are signed even this good quality announcement is just hope.

Who knows, the offtake agreement could be with Timis & Sage metal brokers (hq leederville) for 10,000 AUD a tonne of cobalt.