blackrock, page-3

Blackrock only get their shares once they meet the performance targets set out in the Recomplaince Prospectus. See below.

As set out in the Recompliance Prospectus, the Company has agreed to issue up to 37,500,000 Shares, in three separate tranches of 12,500,000 Shares each, to the Blackrock Vendors if certain performance milestones are met. Additionally the Company has agreed to issue up to 7,500,000 Shares to Spinifex on completion of the Spinifex Tenement Purchase Agreement and up to 5,000,000 Shares to Demycoal on completion of the Demycoal Tenement Purchase Agreement. (These are the QLD assets)