re: Ann: Kogi Iron Raises $0.97 million via S...
2013 Annual Report ,REM report page 27
Going forward Basically over 80% of Director fees are at risk,
Shane Volk REM agreement, 1/3 of preformance shares when he secures additional equity of $5Mill by Dec 2013 this yr
1/3 " " for additional capital by Dec 2014
1/3 " " " Comply with Nigerian Review by Dec 2014.
The other directors at risk entitlements below:
1/3 of performance shares vest. when KFE announce to ASX 500MT of 40% grade Fe at Dec 2014
1/3 """ "" when minind funding of $15Mill is approved
for th Abaja Project by Dec 2014
1/3 " " " when KFE announce the agreement to access heavy rail from Itakpe to Warri by Dec 2014
So the performance hurdles are in place members/ holders of KFE will see what 2014 will bring..some good announcements i hope. We are 100% at risk lol
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