Ann: Proposed issue of securities - BML, page-69

I contacted Simon yesterday voicing my dissappointment at the terms attached to the performance rights. To his credit he replied same day.

Reply was - essentially the boards performance rights had expired and they are just seeking to re-instate the performance rights on the same terms as the previous ones which were overwhelmingly approved i.e. produce a DFS, 50mil finance, share price targets, and 5year terms.

So no proper thought went into checking if those terms were still suitable but not necessarily a purposeful grab for easy shares with low targets. Maybe a case that they thought if everyone approved them before then just re-iisue them again on the same terms? (everyone can make their own mind up on this).

I suggested they reconsider/revise the terms, and issue an updated announcement, before shareholders vote and Simons response was "your suggestions is duly noted", so perhaps they will change who knows.

PS: One of his comments was "We are absolutely focused on delivering our DFS H2 2022 and moving the project forward as quickly as possible", that was good to hear.