Ann: Appointment of Chief Executive Officer, page-12

A few small concerns for me with this appointment and the remuneration package;

Hi expereince is essentially in arranging funding for projects. (and they say he has thee skill set (not experience) to operate projects in Africa)…

He has no technical background in the industry and has not run a company like KFE before. That may be fine… But to pay someone $375k that can only provide a financing benefit is a bit much…


Then there is the incentives

$150k for KPI’s would be great to know what they are….

And the long term equity incentive… The first part will vest with successful completion of a fund raising for the DFS…. But at what price? Anyone could get that off the groud at a cheap enough price… i.e if they had to raise money tomorrow it would be a lot harder getting 10 cents off investors as it is in getting 7 cents.

Either way… The company is moving a long nicely. Just hope we don’t get sold short on any future funding measures with heavy discounts…..