Time line has blown out a bit.The key performance indicators for...

Time line has blown out a bit.

The key performance indicators for the award of all of the shares are the achievement of the following by 31 December 2009:
• Exploration and evaluation of the Waterberg tenements to be sufficiently advanced to allow determination of a JORC reserve, which would require as a pre-condition the development of an open cut mine plan suitable for inclusion in a bankable feasibility study; and
• Completion of a preliminary bankable feasibility study, which by its nature provides a definition of material project risks and a sufficient economic result to justify a mine development.