Ann: Change of Director's Interest Notice, page-12

"I do not know why Brian is still at the helm as due to his age perhaps taking the money earlier this year whilst share prices were substantially higher, he could have retired comfortably enjoying his twilight years."

My friend, the question put forward asked why someone was still at the helm? Not why would someone at a particular age take on a mining development project as head of a junior explorer?

So I believe the response was quite relevant IMO.

Also Antilles, whilst the ASX ticker is relatively new is hardly a start up in the "Tech" sense of the word. The company has been around since 2006 and therefore after 16 years might be considered a little more than a start-up?



"If it's not a lifestyle company, why is Brian remunerated so exorbitantly? He's definitely not doing the cashflows any favours"

And whilst the usd to aud exchange rate does make the remuneration package pad out I don't personally consider it exorbitant considering the roles covered and what has been achieved in the last couple of years.

Plus in that time he has shelled out $1'222'743 on "On Market" share purchases which when using average wage figures to account for exchange rate deviations (1.27-1.6) leaves somewhere between $56 & $220k from the total remuneration paid over 2 years after consideration for share purchases on market.

There are no freebies given and not one has been sold back on market.. Basically the lot has been re-invested in the company at an av value of 0.064c per share over the period so bang on all you want but the guy has put his money where his mouth is.

Show me 1 other director in a junior anything who has done the same?





Market Index list two comparable companies... Comparable by MC only would be my take.

TMZ Thompson Resources with an MC $15m paid out $1m in director fees (plus $183k pending) and another $427k in share based payments in recording a $2.8m loss




NMR Native Minerals with another MC of $15m paid out $546k in remuneration plus granted 13.75 m options to the ED who also billed the company $66k + $223k + $71k for selling 30k worth of gold at a cost of $146k process cost and booked a loss of $4.6m (Income tax benefit pending) of course








Now I probably should, but won't, bother to see how much any of this lot tipped back into share purchases during the year. I think we know the answer.

"What is most interesting to me here is a chomp at the $45mil lawsuit, if they can survive long enough to see it resolved. Also the project seemed juicy when I crunched some numbers. They just need to cut the cashburn (remuneration) dramatically."

Myself I'd rather Brian keeps reinvesting his remuneration whilst pulling together finance deals & offtake agreements, else there is no project, whilst James Angela & Ugo keep doing what they're doing in preparation for 2023 and the decision to mine. Plus the rest of course. The expenses of which (see list below) are covered by the "Near term development strategy" plan as released on the 26th Oct 2022.







Finally.
Leaving the ignorance of the following statement aside, in light of all that has been stated, "What is most interesting to me here is a chomp at the $45mil lawsuit, if they can survive long enough to see it resolved" the timeline for resolution has been clearly identified and could possibly coincide with this time next year.


Some may be sweating on the $45m but the company doesn't appear to be one of them, according to project timeline notes.

But for the benefit of any wondering the international lawyers referred to are LALIVE a Swiss based international law firm who specilaize in arbitration matters.



The dispute seems straight forward enough and if this mob have taken it on then it's fair to say I'd feel confident as well. H8tey