how do we read this???a) signal to the market full steam ahead,...

how do we read this???

a) signal to the market full steam ahead, all aboard....
finance almost approved, issue before spike (theoretal spike in price)...

b) dilution, dilution, dilution - last hail mary...

btw - i have no opinion....


2,257,514 Performance Rights and 1,007,514 Unlisted Options, subject to shareholder approval at the upcoming Annual General Meeting. The terms of these Performance Rights and Unlisted Options are as follows:

Successful completion of performance tests demonstrating that Vista Phase 1 facilities meet performance guarantees under EPC contract December 31, 2016, 1,250,000

Clean coal production from the Vista Project over three consecutive months equals or exceeds an annualized rate of 6 million tonnes December 31, 2016 1,007,514

Unlisted options to be granted at an exercise price being the higher of CAD0.30, the Market Price (as defined by the ASX Listing Rules) of Shares on the date of grant and the VWAP of Shares for the five trading days preceding the date of grant. The options will vest on February 13, 2017 provided that construction of Phase 1 of the Vista Project has been completed by this date.