I have been going through all the past announcements and the...

I have been going through all the past announcements and the condition for the tranche 3 options was first gold had to be poured by 1st September which isn't going to happen. If the TO happens these options will vest.

Things get even better when you look at the performance rights. These required certain targets to be met which appeared unlikely before the TO. There are 7,180,470 of these issued for zero consideration and they are all to be converted to .27 SLR shares in the TO. They appear to be held by Marc Ducler and Lindsay Franker and equate to $2,872,188 at the offer price.

I am sure that both Marc and Lindsay were not influenced by the potential loss of these performance rights when they were faced with the difficult decision of recommending the TO offer to the shareholders.