Well it's 6 mil free shares (resolution 1) for doing their job. I certinaly will not vote to approve this resolution unless the shares are escrowed for a period or they follow the perfomance rights milestones for staged release.
The balance of resolutions pertaining to Director/Executive Performance Rights look to be a tad generous in terms of achieving milestones. I suspect they have already achieved the criteria for Class 1 rights to be issued.
Class 1 - Upon achievement of a 25% or greater increase inthe combined Mineral Resource across all categories of Measured, Indicated andInferred (as each of those terms isdefined in The JORC Code 2012 Edition(or the current edition at the time)(JORC Code)) at theSturec Gold Mineand as verified by an Independent Technical Consultant.
Class 2 same as Class1 but this time 40%+ increase
Class 3 Upon completion of a revised scoping study in accordance with the guidelines prescribed by the JORC Code, independently verified by an Independent Technical Consultant,which indicates that the Sturec Gold Mine contains a JORC Code compliantMineral Resource which delivers a pre-tax net present value (NPV)in excess of AUD$100millionanda pre-tax internal rate of return (IRR)of 20% or higher using a 5%discount rate.
Interestingly, silence on the spin off front from the company.
MTC Price at posting:
12.5¢ Sentiment: None Disclosure: Held
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