Expect a flurry of announcements in the coming 6 months.
Schedule 1 gives clear targets for project milestones and vesting conditions related to them for Scott Williamson.
Number Vesting Conditions MeasurementDateSTI
Tranche 188,385 Complete life cycle carbon analysis on integratedupstream and downstream PFS for the Ta KhoaProject demonstrating NCM production impact (KgCO2 eq/Kg NCM) in lowest 50th percentile of similarproducers. The analysis will be completed withreference to an independent third party report30 June 2022Escrowed for12 monthsSTI
Tranche 2220,963 Completion of Phase One Pilot Plant Program for theDownstream Refinery (Ta Khoa Project) to supplybattery grade sample products to potentialdownstream partners.30 June 2022Escrowed for12 months
STITranche 3132,578 Achieve a JORC compliant resource of 500,000tonnes (inferred and indicated) of Nickel or metalequivalents reported in accordance with clause 50of JORC code, for the Ta Khoa Project and greaterthan 50% conversion of Resource to Reserve.30 June 2022Escrowed for12 months.
Great clear targets, more upside potential to come all.
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