GM: Resolutions 1 - 7 Opinions/Thoughts, page-18

that's right,

and try dumping 2,500,000 options into our register, we are too illiquid (not that they will as they will hold and lock those away)... each director will have to fork out $1,125,000 of their own money to convert these options, so having exposure to $1,125,000 and not having assurance of it ‘paying off’ does mean that the Directors would want to see a substantial SP much higher than the 45c stated.

Lets not forget, that whilst the 45c is a market mechanism, there are also performance mechanisms that need to be achieved also, BEFORE they can even decide to convert the options. They are:

1. Completion of a DFS
2. 70mt resource
3. Mining Licence
4. Change of control or event

So one of those 4 need to happen first, THEN only do they have the option to convert them, at say when the SP is 65c….

I understand there are many views here, but each director has my friends, family and own Yes votes all locked up….