Let's remember the upcoming milestone targets for the remainder...

Let's remember the upcoming milestone targets for the remainder of 2016 set by management themselves ..... they missed the July target for James Phipps ...will they achieve any of the 4 milestones this year ??

Milestone 1 means the transfer/issue of the Khnaiguiyah Mining Licence to the Alara/Bayan JV....... FAIL
Milestone 2 means securing a new mining licence in respect of the Al Hadeetha Copper -Gold Projects.   
Milestone 3 means a ‘Decision to Mine’ has been made by the Company and the completion of ‘Total Financing’ on the Al Hadeetha Copper – Gold Project.  
Milestone 4 means ‘Commencement of Construction’ in respect of the Khnaiguiyah Zinc-Copper Project after completion of ‘Total Financing’.

Alara Chairman (Mr James Phipps) to acquire unlisted options with a term expiring three (3) years after the date of issue with exercise prices, as follows:  
(i) Tranche 1 - 7,000,000 options each with an exercise price of $0.04 which will vest upon the attainment of Milestone 1 on or before 31 July 2016....... fail
(ii) Tranche 2 – 7,000,000 options each with an exercise price of $0.04 which will vest upon the attainment of Milestone 2 on or before 31 October 2016;
(iii) Tranche 3 – 7,000,000 options each with an exercise price of $0.04 which will vest upon the attainment of Milestone 3 on or before 31 December 2016; and
(iv) Tranche 4 – 10,000,000 options each with an exercise price of $0.10 which will vest upon the attainment of Milestone 4 on or before 31 December 2016.


Managing Director (Mr Justin Richard) to acquire unlisted options with a term expiring three (3) years after the date of issue with exercise prices, as follows:  
(i) Tranche 1 – 7,000,000 options each with an exercise price of $0.04 which will vest upon the attainment of Milestone 2 on or before 31 October 2016;
(ii) Tranche 2 – 7,000,000 options each with an exercise price of $0.04 which will vest upon the attainment of Milestone 3 on or before 31 December 2016; and
(iii) Tranche 3 – 10,000,000 options each with an exercise price of $0.10 which will vest upon the attainment of Milestone 4 on or before 31 December 2016.


Executive Director (Mr Atmavireshwar Sthapak) to acquire unlisted options with a term expiring three (3) years after the date of issue with exercise prices, as follows:  
(i) Tranche 1 – 7,000,000 options each with an exercise price of $0.04 which will vest upon the attainment of Milestone 2 on or before 31 October 2016;
(ii) Tranche 2 – 7,000,000 options each with an exercise price of $0.04 which will vest upon the attainment of Milestone 3 on or before 31 December 2016; and
(iii) Tranche 3 – 10,000,000 options each with an exercise price of $0.10 which will vest upon the attainment of Milestone 4 on or before 31 December 2016.