slight concerns, page-6

No problem Dc

BUT then they incorporated this little gem!!!

7. The Board has certain discretions under the Performance Rights Plan. In particular, the Board may amend the Rules of the Plan or waive performance or other vesting conditions.

I suppose the question being,and probably what North Sound want to know from meetings minutes,did they in fact waive those conditions.Im guessing they did given MF converted his without lifting on ounce of zinc.It may well be that the board didnt raise a waiver of the conditions at any meeting post the meeting on the last performance rights issue.Possibly the only way to tell would be to check on MF's balance of shares prior to the meeting(and what he was to be issued this time around) and when he resigned.There seemed to be quite a bump up in the number he held between these two events.

In fact Ive just had a look at the 8/11/07 3Y notice and it appears

MF converted his 8M to give him 22.9M

VB and VC held only the performance rights issued and did not convert.

WC and VB willing to convert their rights?Well given they had the clause within those conditions that would have allowed them to convert and they didnt Id say they have probably had a moment of consciensce possibly prompted by Ns'ds recent actions.Id say what the horses mouth might be saying and what the horse actually does is very much dependant on just how the jockey(North Sound)pulls the reigns atm;-)

As far as new found board sincerities concerned Im not counting any chickens yet.Perkoa is still just a hole in the ground with no contractors on site,no 43-101,no balance of project funding,no MD to run it all,no Perkoa results,etc etc.

d.