Package balance

I've left it a few days before commenting on the incentive package while tossing it around with some other shareholders.

I think the overall need & goals for an incentive package are good & needed.

The KPI's of DFS, offtake agreement & mine building finance are exactly what shareholdres are looking for & exactly what the company needs.

The exercise prices are probably fair & reasonable given the current share price. At least they are not proposed to issue already 'in the money' as the last tranche of incentive options were. Although it does grate a bit that the share price has declined from 0.23c to under 0.10c since the new CEO arrived. That said I do think the current CEO & chairman are, by far, the best the company has ever had & are well up to the task of delivering on the KPI's.

However, what I feel is unreasonable, is the amount of options proposed - >27 million!

This is a proposed issue equal to around 10% of the issued capital of the company.

I'm sorry, I'm all for incentives but that amount for doing what is realistically their job is way over the top & I cannot support such a large issue. I would say it is at least triple what is fair & reasonable.

An overall total amount of 8 or 9 million options in the plan would be an excellent reward in any language & I hope the board takes note of this feedback & amends their proposal to more fit with shareholders expectations.