Ann: Kimberley Mining TSX-V Listing Update, page-5

Not sure why they hid the SP hurdles in the footnotes. So a lot of the cash is riding on 'forces' working in their favour for the targets to be achieved. Could be a stretch, but it is on a sliding scale with the SP based on a 20day VWAP so providing the SP doesn't completely tank there should be some form of return - if all goes ahead as planned.

1. C$12.5M cash as per foot note 3, 4, C$20M equity based on 25M shares of 65.45M total shares on issue, C$25M capital raising at IPO of C80c per share.

2. Targeted C$25M capital raising at IPO of C80c per share

3. 12 months from IPO (assuming $0.80 IPO):
if KML share price <$0.40; MCT does not receive this cash component
If KML share price is $0.40; MCT receives C$1m cash If KML share price is $0.80; MCT receives C$3m
If KML share price >$1.60; MCT receives C$5m
If KML share price between $0.40 and $1.60; MCT receives cash on sliding scale (i.e. if KML share price is $1.00; MCT gets C$3.5m)


4. 24 months from IPO: (assuming $0.80 IPO):
if KML share price <$0.40; MCT does not receive this cash component
If KML share price is $0.40; MCT receives C$1m cash If KML share price is $0.80; MCT receives C$2m
If KML share price >$1.60; MCT receives C$3m
If KML share price between $0.40 and $1.60; MCT receives cash on sliding scale

Share price based on last 20 business days VWAP 1

Canadian Dollar = 1.02 Australian Dollars.