Ann: Notification of cessation of securities - MNB, page-2

I thought these lapsed last April when the company failed to get finance within 2 years of the issue date? The other Performance rights, tranche 1 based on an offtake lapsed, tranche 2 based on the DFS were converted to shares.

Also of interest is the 12m Performance Rights granted to Lindsay, the Board has yet to issue the vesting terms & conditions. It will be interesting to see what those T&C are for each of the three 4m tranches. Obviously they can't make one of them the completion of finance as the company has already stated these final CPs should be completed "in coming weeks".

Possibly 1 tranche might be for successful completion of construction, another related to sales ??

Also we have the expiry of the Director 5c options coming up on 18 Nov'24. There's 30m which are now in the money which will cost those Directors holding them $1.5m combined. With a SP of the current 6.4c (higher as the CPs get ticked off) you'd assume they'll exercise them even if they have to re mortgage their house to fund it.