Bounty Mining Limited signed an agreement to provide coal washing and rail loadout services to the Bluff Coal Joint Venture. This was detailed in Bounty's 2018 Prospectus. The agreement lapsed as conditions precedent were not achieved by the Bluff Coal Joint Venture. However, Bounty has now executed a new agreement (on substantially the same terms as the previous agreement) directly with Carabella, which is now proceeding to develop the project without joint venture partners. The new agreement with Bounty is unconditional. Coal processing will commence in third quarter of fiscal year 2019. Bounty subsidiary Bounty Cook Pty Ltd. will be paid a fee on a per-tonne-washed-coal basis for its services; including washing, stockpiling, loading and logistics. The Agreement includes a minimum labour fee per month. Bounty Cook is responsible for all consumables and other costs in relation to its services. The terms of the agreement provide for Carabella to send up to 100,000 tonnes of coal per month for washing at Cook CHPP. Any upgrade of the product coal handling system required to handle Bluff Coal Project at the Cook CHPP will be completed at Carabella's cost. Carabella is also required to secure their own rail capacity and will undertake their own coal marketing.