Given we all know the tonnage is generally understood by everyone in the industry already, I don’t see why they couldn’t drop the JORC before this General Meeting. Which would mean the question becomes whether tranche 1 is a performance right or just a retention right.
Still don’t understand why they’re only proposing Tranche 1 now. If it had been proposed 6 months ago i don’t think anyone would have had a problem with it.
Ann: Notice of General Meeting/Proxy Form, page-43
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