Ann: Issue of Performance Rights, page-2

What a f*ing joke!
I do not recall ever being asked to approve 50% of performance rights for achieving less than 50% production.
The directors represented in November-December 2023 that the plant was running at 240ktpa. The guidance in January 2024 was for production of up to 440kt in CY2024 and a run rate of 625kt pa by December 2024.
Here on 17 June 2024 they decided to issue performance rights at an all time low share price with 50% vesting for reaching production of 250kt for FY2025. That's an underperformance of more than 50% which should be penalised not rewarded!!!

And what happened to penalising the executives for losing almost $5mln to Aurizon in one year....

As I understand it no specific performance plan was put to shareholders, and it was all dreamed up by the board recently. The board is therefore either incompetent or complicit.

The Aurizon debacle will need to be funded somehow. They can't do a capital raising because no one in their right mind would give money above 2c per share due to the level of misrepresentation in the past capital raising. My suspicion is that they opted to slow down the ramp up so that they can pay Aurizon.