G'day Peff, well I'm a bit reluctant to comment ...but yes, I do...

G'day Peff, well I'm a bit reluctant to comment ...but yes, I do think it's a pity Dano didn't receive better guidance from the Board on the matter of the proposed Performance Rights.

Or make better use of some pretty good people he now has to consult on this side of things.

It has been a misstep, in my view, and a distraction just when his promotional tour to Australia was beginning to bear fruit.

It's obviously become a preoccupation round here!

But is nothing like a deal breaker for my own investment, however.

Dano's a great engineer and has expert knowledge of, and superb contacts in, all aspects of HBI/Pig Iron/Steel manufacturing, but is, I think, something of an ingenue (albeit a quick learner) in corporate matters relating to the spec end of the market.

That all said, it's always a good thing when management has plenty of skin in the game.

And I think Dano has clearly demonstrated himself to be our best asset after the Project itself.

So I would like to see him well set, and quicksmart - possibly even rewarded retrospectively (gasp! ) for some of what's already been achieved by the Company.

For example, his expertise and contacts have already saved us considerable time and expense - as with the Beijing Shougang International Engineering Technology Company (BSIET) green pig iron test work program. That was high quality work, done with alacrity at a fraction of the cost in the West.

As to the overall suggested quantum of remuneration, I tend to side with RMInvest's thoughtful and evidence-based approach..

And with others I would have preferred better-framed and tougher future milestones that bring shareholder and management outcomes into better sync - staged milestones for the Performance Rights to vest along the lines of the achievement of:

- Binding funding arrangements
- Firm offtake agreements
- Commencement of construction & commissioning
- Attained production levels
- Sustained Market Capitalisation thresholds

With luck, everyone can save face and the matter be resolved easily if the ASX looks at the proposals and raises an eyebrow.