I am aware of how options work and my position to the matter is...

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HowieG

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19/01/19

14:30

Post #: 37164034
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Originally posted by Green Hornet: ↑

They have not been just given to him and he will still have to pay down the line to convert @ 40cents each so serious cash still
He will still have to meet targets set out of

Shareholders should note that the Consultancy Agreement contemplates the 4,000,000 Options vesting in three tranches as follows:
(a) Tranche 1 Options: 2,000,000 Options will vest on and from completion by the Company of the Placement by 31 March 2019 or the Company obtaining the shareholder approval for the grant of the Options whichever is the latter;
(b) Tranche 2 Options: 500,000 Options will vest one month after the Board resolves to commence workon the preparation of a Definitive Feasibility Study on the Goulamina Lithium Project, where at that time Mr Hepburn is continuing to act as the chief executive officer of the Company; and
(c) Tranche 3 Options: 1,500,000 Options will vest on completion by the Company of a Definitive FeasibilityStudy on the Goulamina Lithium Project provided that it occurs by 31 December 2019 where Mr Hepburn remains as chief executive officer of the Company, or such less number of Options if Mr Hepburn ceases to act as the chief executive officer during 2019 but prior to completion of the Definitive Feasibility Study,as determined in accordance with the terms of the Consultancy Agreement.

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I am aware of how options work and my position to the matter is unchanged. I will be voting against.
If the board would like options tied to BOAs, a JV or Sale then I will happily vote yes as we will all greatly benefit.

BGS Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
23 Upvote

0 Great analysis

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