I think you may need to refamiliarize yourself with the 80m Performance Rights tranches and hurdles.
i. 20m for being employed for 2 years;
ii. 10m for 1.25Moz at 1.3g/t;
iii. 20m processing 10koz at their plant
iv. 10m Gold production exceeding 100koz... in total
v. 10m at $50m MC OR 20-day VWAP 0.04. What is the MC now at 0.015?
vi. 10m at $75m MC or 20-day VWAP 0.04.
It seems to me AR can earn most, if not all of these, with the SP at around the current level.
Ann: Momentum Building with High Grades at Second Fortune Mine, page-8
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