Ann: Kogi Iron Raises $0.97 million via Share Pur, page-8

re: Ann: Kogi Iron Raises $0.97 million via S...

2013 Annual Report ,REM report page 27

Going forward Basically over 80% of Director fees are at risk,

Shane Volk REM agreement, 1/3 of preformance shares when he secures additional equity of $5Mill by Dec 2013 this yr

1/3 " " for additional capital by Dec 2014
1/3 " " " Comply with Nigerian Review by Dec 2014.

The other directors at risk entitlements below:

1/3 of performance shares vest. when KFE announce to ASX 500MT of 40% grade Fe at Dec 2014

1/3 """ "" when minind funding of $15Mill is approved
for th Abaja Project by Dec 2014

1/3 " " " when KFE announce the agreement to access heavy rail from Itakpe to Warri by Dec 2014



So the performance hurdles are in place members/ holders of KFE will see what 2014 will bring..some good announcements i hope. We are 100% at risk lol