Ann: Exercise of Performance Rights, page-33

Reading some of these comments is comical. Although I personally believe management have alot to answer for and shouldn't be entitled to excessive performance rights given the SP decline over the last 2 years, I am comforted in the fact that management would not be stupid enough to go and give themselves millions of free shares if the future prospects of the company were grim! Think about it, if you were management and you knew there was little chance of binding offtake agreements and the mine being funded and delivered, would you actually give yourself free shares when the SP is just going to decline back to 5c or worse? Hell no! That would be the stupidest play to make, you'd be more likely to draw as much cash out of the business as you can while pulling the woolly over shareholders eyes for as long as possible (another argument for a different thread). I'm not concerned by this announcement one bit.

As a side note, I do think that if the Board don't hurry up in the next 3 months and get some clear timelines communicated with final investment decision sorted on Epanko then the upcoming AGM will be a bloodbath IMO.