A breakdown of James Marsh's 25mill performance shares.These...

A breakdown of James Marsh's 25mill performance shares.

These hurdles are a great insight to what the company believes is achievable.

As a longer term holder, if all the following can be reached, I would be happy for James Marsh to receive all these performance shares in return.

1. 5m vest upon the commencement of mining at the Toondoon Project and execution of the unconditional binding off-take
agreement(s) totaling 50,000 tones of direct shipping ore kaolin or 50,000 tones of metakaolin (domestic or
international markets).

Depending on the type/mix of Kaolin sold (general, pink, plastic etc) - 50k tones would be a gross revenue of anywhere between $15-40 mill

2. 5m vest upon execution and completion of binding off-take agreement(s) totaling 200,000 tones of direct shipping ore
kaolin or metakaolin (domestic or international markets).

200k tones could be a gross revenue of anywhere between $60-160 mill

3. 5m vest upon execution and completion of binding off-take agreement(s) totaling 50,000 tones of manufactured zeolites.
Depending on the exact grade etc... these could fetch anywhere from $700 0- $1,100/ t
Making the total potential revenue to the company for this hurdle being $35mill - $55mill

4. 5m vest upon Zeotech accruing its maiden gross revenue of greater than or equal to AUD$1m in an audited financial year
from the Company's kaolin resource(s) or proprietary technology developed or held by the Company.

Based on the numbers above, this hurdle should be rather straight forward to achieve

5. 5m vest upon the date that the Company's 21-day volume weighted average share price is equal to or exceeds a market
capitalization of AUD$250m

This market cap is approx. 3.8 times greater compared to the current market cap

A 3.8 times increase in the share price would equal 13.6c !