The following is an extract from the ANN, Wwhich is detailing the Milestone on which the shares can be awarded to the CFO:
"Milestone - Announcement by the Company on the ASX market announcements platform of the execution of binding documentation for commercial financing of the development of the Vittangi Anode Project of a production scale of at least that disclosed in the detailed feasibility study announced on 1 July 2020. Milestone Date 30/11/23"
Am I reading this correctly, in that the Milestone for for the financing of the Project is Nov 2023? If I am reading it correctly, then:
(i) That seems a long time from here to get that financing, making this milestone a fairly easy one to achieve for the CFO; or
(ii) The company thinks it might take that long to lock in the financing?
I would have thought that this Milestone timeframe would have been a lot less, in order to ensure the CFO gets the financing quicker, the way the Milestone is written, does not incentivise the CFO to get the financing locked in ASAP!?
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The following is an extract from the ANN, Wwhich is detailing...
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