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.
RES Price at posting:
54.0¢ Sentiment: None Disclosure: Held
