joeness"Surprised he wouldn't advise more about selling at the...

joeness
"Surprised he wouldn't advise more about selling at the gate, possible they dont have their off-take agreements sorted out yet."

Tom did not explain the "selling at the gate" terminology.
He got angry as the dummy spit guy said it was like selling soft drinks on the side of the road.
They do not have off take agreements currently. Most of the earlier reports suggested they would be likely at Phase II, but currently they stockpile, and sell on order. The customers presumably place orders, then drive their trucks in and weigh and reweigh on departure. This is the system used throughout China he said.He said dont be preoccupied by offtake agreements.
The two car manufacturing plants are still under construction, so presumably they will be important customers after phase II is completed.
I think they are running what will be a very successful business, thye are smart guys, not shonks, but neither Tom or Bill Bass presented as they might have. They were both unwilling to discuss many specific details, such as prices, timetable for Phase II.
They did have this type of information in the prospectus but have now clammed up a bit. Both of them stressed, and did not want the wrath of shareholders...which I guess they expected looking at the share price. They were however very confident about the future of the company itself.