Facts and Figures

For those that don't know what those Incentive Performance Rights are all about and what teddie and I are discussing.
This Resolution was approved at an EGM on 15 August 2019.
Where the issue of 5 million Rights for each of the BOD.N.B.The initial undiscounted value of the Performance Rights is the value of an underlying share in Lake at the date of issue of the Performance Rights.
For the purposes of this valuation, the closing share priceof a Lake as traded on the ASX on 27 June 2019 of 7.4 cents. (So they are now "worth" 65% less)The Performance Rights in relation to Resolution 7, 8 and 9 will vest in tranches linked to the performance criteria set out in Schedule 1, and summarised as followsirector Resolution
Performance Criteria
Nicholas Lindsay 7 • 50% vests when a Pre-Feasibility Study is complete
• 50% vests when a Pilot Plant is established on-site at the Kachi Project in Catamarca
Stephen Promnitz 8 • 50% vests when a Pre-Feasibility Study is completed; and
• 50% vests when an investment partner signs an agreement to invest into the Kachi Project in Catamarca
Stuart Crow 9 • 100% vests when an investment partner signs an agreement to invest into the Kachi Project in Catamarca;

(Me) All "performances" are vital (arguably, even essential) for the ongoing future of the company.

mpr505. You are absolutely WRONG. These are the FACTS. His Base salary is $100Kp.a. Then there were the "consultancy fees" of $160k,Total $260k.
BUT when discussing the remuneration of the BOD, if people are looking at the numbers on Page 16 of the Notice of the Notice of Extraodinary Meeting of 15 August 2019, yes, they certainly look extraordinary.
But, you then have to read what has been asterisked on Page 16
* Including the accrued value of the performance rights proposed to be granted under Resolutions 7, 8 and 9
** Including the accrued value of the performance rights proposed to be granted under Resolutions 7, 8 and 9, and also the options proposed to be issued under Resolutions 10, 11 and 12 and the explanation of valuations on Page 17
."Current stock price as taken as the market closing price at the end of 27 June, 7.4 cents on the valuation date.
This is used as a proxy for the actual market price on the future date of issue.
"As we all know, sadly, the current stock price today is 3 cents.
So all of those "Proposed 2019 Financial Year Remuneration" are way out of whack to reality and those options and "incentives" are currently down by 65%. AND they haven't earned them yet and haven't exercised the options some of which have an exercise price of 28 cents.

So, the BOD are not such a drain on the current day to day running costs of the company. And all were approved at the relevant EGMs.

Re selling over last 2 months, I am advised that the current Top 20 hold only 1.1 million shares less than the Top 20 held on 27 September 2019 while turnover on the market has been over 40 million. Read into that what you wish.