I'm actually bullish on this ann. Lot of sheeple bearish on this but I think this is the "takeover" box being penciled in.
Downside has been priced into commodities. OPEC production cuts - declining US will see a reversal back to commodities.
Upside is hard to price but a quality low cost project that Jury and Matthews decided to get into is still a takeover prospect.
I'm interested in the previous option package - was there a vesting date for the options for those guys? Might be a tough 90 days but the takeover value of the project with a BFS and PFS is worth 2-3 IN THIS MARKET.
The BFS and PFS were originally timetabled for this time...
See Page 14.
-First exercise date for rights- The share rights are exercisable on the fulfilment of the service vesting condition and performance conditions set out below or where a ******special circumstance, such as a takeover, may arise allowing an earlier exercise.****
-The date of grant of rights- If approved, the rights, up to the amount approved, will be issued to Mr Jury within 90 days of the approval.
-Service vesting condition - Share rights granted under the Share Plan to Mr Jury will be subject to him still being employed
RES Price at posting:
52.0¢ Sentiment: ST Buy Disclosure: Not Held
