You do understand that the price quoted in an offtake is not the...

You do understand that the price quoted in an offtake is not the selling price,  it's just a guide,  the real price is a floating price that is governed by the market.  Syr have found out the hard way. 

let me put it like this.  If you buy an iron ore company like say fmg or grr,  it would pay to read the commentary of rio and bhp on the price and outlook of supply and demand of iron ore. Even though bhp and rio are competitors they can shed light on what the market is doing.  By looking at syr,  you gain that knowledge too and can bring it back and relate it tons situation.  The market isn't very good at the moment it's extremely tough.  The longer you takes the better,  nearly all the money for the mine is financed,  hate for ton to miss payments because it's selling price is low or can't sell enough quantity.  Everybody likes there investment in that scenario