general chat, page-44

Well just read the 2023 annual report and I have been passing on misinformation about the MMA options.

1. MMA directors have 10M 25c April 2025 options. Once exercised, the shares will be escrowed for 24 months.
2. 25M of the 30c options that I assume were issued to RDM who transferred them to eligible shareholder do not have the free 1 for 2 60c April 2025 options attached to them.
3. There remains 28M 30c options that have the 60c 1 for 2 free attaching option once converted, meaning that there is only 14M 60c options which will only raise $8.4M if exercised in April 2025.
4. If the 60c options and the Directors 25c options are exercised by April 2025, then that adds $10.9M to MMA's accounts, not the $15M that I had assumed.
5. The 28M 30c options with a 1 for 2 free attached 60c option once exercised will have the shares escrowed for 12 months for regular shareholders and 24 months for Crescat Capital.