Ann: Kaiser - Key Leadership Appointments, page-4

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10/02/21

12:08

Post #: 50856296
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Originally posted by phillop ↑

Additionally, the
equity-based
remuneration should be based on company/mine profitability, not production through the mill.

Stewart will be remunerated on a salary of $80,000 plus superannuation and will be awarded Fully Paid ordinary Shares in Kaiser Reef Limited (ASX.KAU) (or cash equivalent at the Companies discretion based on 5 day VWAP prior to award) for the following milestones being met;
Within 12 months of the start date:

1.1 PRODUCTION: 75,000 Shares when A1 Mine operations reaches and maintains a production profile of 5,000 t/month or more over a 3 rolling month period and during that period the Company’s mining and treatment operations ARE CASH FLOW POSITIVE.

1.2 PROCESSING: 75,000 Shares when the Company increases utilisation its gold processing facility IN EXCESS OF 60% OF NAMEPLATE (nameplate 150,000 tonnes p.a.) for a three-month period and during that period the Company’s mining and treatment operations ARE CASH FLOW POSITIVE, and
within 30 months of the start date:

2.1 MARKET CAPITALISATION: 100,000 Shares when the Company reaches a market capitalisation of $150 million (over a 5 day VWAP period)

2.2 PROCESSING: 100,000 Shares when the Company operates the Maldon Process plant AT 90% OF NAMEPLATE CAPACITY (NAMEPLATE 150,000 tonnes p.a.) for a 6 month period and during that period the Company’s mining and treatment operations ARE CASH FLOW POSITIVE.

Sounds like he is the Director of Operations - a MC of $150M implies a $1.50 SP

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KAU Price at posting: 43.0¢ Sentiment: Hold Disclosure: Held
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Ann: Kaiser - Key Leadership Appointments, page-4

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