IMO after the Crown affair was over in May 2011, Nick continued...

IMO after the Crown affair was over in May 2011, Nick continued as Forge Chair to ensure that he did not miss out on those 24 million performance shares of Forge. And his efforts bore fruit when Forge signed a deal with Todd Investment in March 2012. The 24 million performance shares would have become useless after 21 march but the Forge BOD directors decided he earned it anyways.

So after Crown fell through Nick spent time and effort for 10 more months May 2011 - March 2012 to GET his Forge performance shares. And that period was so crucial for Lynas when all the opposition , etc. were starting to form and subsequently jelling into a hardcore Anti Lynas Movement. Nick had plenty of incentives to concentrate on Forge as it was bearing fruit for him.

I think he is also head of a startup, Foresstania Gold and a myriad of other positions (wasn't he made head of some organization recently?) all of which consumes his time even further leaving less for Lynas.

IMO his continued blaming of social media is starting to be just a poor excuse now.


From the link:

" A key consideration for Todd in making and proceeding with the Todd Investment is that Mr. Nicholas Curtis be Chairman of Forge and be appropriately incentivised to oversee the development of the Balla Balla project

The Board of Directors of Forge (excluding Mr Curtis) is of the opinion that the entry into definitive documentation in respect of the Todd Investment substantially satisfies the performance milestones of the Performance Shares and that it is appropriate in these circumstances, and also considering Todd’s view, that Mr. Curtis should continue to have the benefit of his Performance Shares."

......

" Subject to shareholder approval, the capital structure of Forge post the funding Transaction will be:

Existing Shares on issue (excluding escrowed shares):
27,652,667
Existing Escrowed Shares on issue:3,925,000
New Shares to be issued to be issued to Todd:16,000,000
New Shares to be issued to Sophisticated/Institutional Investors:9,000,000
New Shares to be issued to Mr Nicholas Curtis:24,000,000
Post-Transaction shares on issue: 80,577,667
Options currently on issue:24,955,905
New Options to be issued to Todd:
6,500,000
New Options to be issued to Riverstone Advisory in accordance with its advisory mandate in connection with the Transaction:1,000,000
Post-Transaction fully diluted shares:113,033,572"



http://www.infomine.com/index/pr/pb170099.pdf