Extracted from the A3B notice: "The Performance Shares converted...

Extracted from the A3B notice:

"The Performance Shares converted into ordinary shares on the satisfaction of the following Milestone as per the Heads of Agreement for the Acquisition: “Announcement to ASX by Hardey of delineation of an Inferred Mineral Resource (as defined by The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) of at least 50,000 ounces of gold on the Hardey Projects within three years of their date of issue” (Refer to ASX Announcement released 20 February 2018 for further details)."

Definition from the Australasian Code:

An "Inferred Mineral Resource" is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to an Ore Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.