Under the performance shares, I overlooked this section here;
Now why is that important?
Because by working backwards from Nifty's current timeline we can get a rough idea of when Mine 2 will commence construction. This is the options expiry date. If management want these shares, they need to achieve this by May/June 2026. It's a deadline.
This is my low quality extrapolation of what a reasonable timeline to meet this deadline looks like using Nifty's timeline. This assumes they include a 3 month safety buffer to achieve the equivalent of 50kt+pa.
But this
also assumes they'll
achieve this at the latest possible date. Given the fact the other deposits are very shallow, and CYM will have a bucket load of free cash flow at it's disposal;this could be achieved in a much shorter period of time.
Anyway, just thought it was interesting.
