Ann: Notice of Annual General Meeting/Proxy Form, page-3

Why are none of the vesting conditions hitting nameplate production?

You're looking to get into production early next year - it's meant to be an "LTI" the L and T mean long term

how is above $1 for 2 weeks a long term goal, we aren't a penny stock, have these rights related to tangible business targets you can control

30% of the LTI is basically a guarantee and its just them doing their job thats an STI (arguably though it requires DFS & FID to be done - so fine happy to give yourself a little booster for this work)

the commissioning signoff - thats a good one, I am agreeable

I don't see how above $1 for 2 weeks a long term goal, we could easily get back there on DFS and I think doesn't relate to tangible business targets you can control.

Would much prefer the 3rd one be something to do with production targets as this is meant to be a long term incentive plan - Tranches 1 and 3 they will get within the next month in my opinion - happy for T1 to be given because their hard work should be recognised but T3 feels like a bit of a pisstake considering we've traded at those levels and only dropped from those levels post the informal DFS timeline being missed + trump tariff sell offs

Ron if you back this horse, please consider making T3 $1.20 or change it to reaching 50% of nameplate e.g. producing saleable product of 2,700 kt of antimony and 20k oz of Gold p.a. run rate for 2 quarters - I am a shareholder that has a measly 200k units so can't swing the vote but please consider

IMHO it made sense to have share price $ targets when you were an explorer because that drove your cost of capital, but at this current juncture our cost of capital isn't important it's our production profile as that will drive your fcf and valuation (subsequently shareholder value)

but at the end of the day SP trading above $1 for 10 days consecutively will probably get you those vesting conditions done sooner so understand why you'd want it that way, just be a little disheartened is all.


I also don't see why a NED should be paid $1.5m to $2m in equity - for reference not a single board member (chair included) earnt that much at CBA in FY24 - a $250Bn company,

The Chair at CBA got $900k in total payments

I don't see why a NED should receive $1.5m to $2m in equity for a relatively simple business with 1 development asset and 3 exploration assets