Just reading through the detail of the announcement - Carnaby shares in escrow for a year.
Puts emphasis firmly back on Hammer Management's performance over the next 12 months.
They have already paid themselves handsomely for gaining 12 months breathing room.
(7,000,000 performance rights issued to themselves on 18 Dec 2023 ... at current sp ~$336,000 - note: completely wipes out the money the company received from QG to test Hardway and even takes more money out of the company kitty!).
Spotlight and focus is now totally on results. Three sets expected this month. Management well (over?) compensated. Time to deliver.
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- Ann: Hammer to sell 70% of Mt Hope Sub Blocks to Carnaby for $20m
Ann: Hammer to sell 70% of Mt Hope Sub Blocks to Carnaby for $20m, page-27
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