nc performance shares

Looks like NON EXECUTIVE Chairman Nick Curtis is timing his run to perfection to collect his windfall 24M perfomance shares.

Resource by Jan lets say and cap raise by Feb. By my reckoning the perf shares expire on 21st March 2012.

And how many performance shares does the Managing Director Matthew James get...............doughnut.





(a) The Performance Shares will convert into Shares in the capital of the Company upon either one of the Company’s
existing projects or, a project acquired after the Admission Date is identifi ed as having a JORC compliant
resource which supports a successful capital raising of at least $15,000,000 at a price not less than $0.35 per
Share by the Company and the Company completing such a capital raising (“Milestone”). Upon completion
of the Milestone, all Performance Shares will convert into 24,000,000 Shares in the capital of the Company;
(b) The Performance Shares will expire 18 months from the Admission Date (“Expiry Date”).
(c) In the event that the Milestone is not achieved by the Expiry Date, then all Performance Shares held by
a Holder will automatically convert into one Share.