Share
11,146 Posts.
lightbulb Created with Sketch. 1488
clock Created with Sketch.
12/07/19
20:34
Share
Originally posted by setfire2thehive
↑
It's the unfortunate reality when the board holds substantial amounts of the registry. I'm not much of a fan of performance based issuance of shares unless its S/P related. The JORC ones were a joke, Not very difficult to achieve 100mT measured when you've got 2Bt worth of lith to achieve it, we only needed to dilute the registry severely for capital and drill it out.
The offtake one will at least have a material effect on S/P. That said it could be a horrendous deal, but a deal nevertheless - performance shares still slung out.
If they want to make money from their performance to the company then that is what a wage is for. Or invest their own money in shares and then get the S/P moving north. Time for the board to put their hand in their pocket.
Next AGM will be very interesting. Much different mood to last year from the registry i feel. I imagine AG themselves would have a large portion of shares, add in the collective of 'friends' & 'acquaintances' which would be on the registry through them, and now can act independently.
*Upcoming news
-Met results (soon)
-chairman appointment (soon)
-offtake/finance (monday - or 8 months away?)
-securing additional % of project
SF2TH
Expand
The available evidence point to AG and friends associates or whatever you want to call them reducing their interests so most likely AGM will be just another non event for retail.
Performance based shares are a joke when Retail are losing money vs value at last AGM.