@Fitz
I believe they got the 2.5c based on:
85% of the 15 day VWAP of Shares as traded on the ASX immediately prior to the announcement date for the resource (reading this from the notice of General Meeting - 3 March 2011).
Unfortunately, I believe the 2.5c is only a deemed price (so money was passed across). Will be happy to be correct though.
What they had to achieve was: "the achievement of JORC Inferred Resources of 500Mt of Coal in aggregate on any 2 of the Walkabout Projects".
bargains galore, page-20
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