Ann: Triton Minerals Webcast, page-133

Hi Norgold

My reading of the terms and conditions are:

1) LSI is committed to purchasing A$20M of shares over the 2 years;

2) the amount and timing of each placement is at the discretion of the Company;

3) the purchase price is the higher of the market price and the minimum acceptable price.

4) The minimum acceptable price (MAP) is set by Triton and based on the average of a 3 day VWAP selected by Triton over a 10 day trading period.

Condition 3 allows the purchase price to be set by Triton. At the time of the placement, Triton can choose the best 3 days of the previous 10 trading days and work out the VWAP based on those 3 days. The VWAP becomes the MAP.

If the market price (MP) happens to be lower at the end of the 10 day selection period compared to the beginning, the MAP may be used instead of the lower MP as the placement price.

This mechanism allows Triton the flexibility and control of the placement price which is very pleasing from a shareholder point of view.

Cheers ER

Happy to be corrected, but that's how I read the T&C. Please DYOR.