Snakes Alive!, page-52

Plan shman the previous mob had a plan and that came to nothing. The mob given the imprimatur of the Perth Mob. So plans don't amount to much do they. Particularly as the plan put forward by your mates has no alignment with shareholder interests.

Riddle me this catwoman, why is it that the new Directors are so confident in their game plan that they have given themselves 12 months to achieve the vital step associated with Tranche 2 Options? Recalling that the company has outlined that the Tranche 3 Options "exercise price aligns with the exercise price of $0.10 for 142,328,948 listed options, that if exercised would deliver to the business capital of circa A$14.2 million in additional cash to progress the Agbaja Cast Steel Project". By inference the Directors are asserting that getting the listed options converted is important to their business plans. If the listed options are so important to the Directors' "plan" why didn't they set a 3 or 6 month target to achieve the milestone attached to the Tranche 2 Options? The Tranche 2 Options time caveat rightly shows that the Directors' "plan" does not align with shareholder interests as it is not a genuine attempt to raise the $4m required for this milestone with sufficient time prior to the expiry of the listed options to make a material difference to the listed options. This is clearly smoke and mirrows by these Directors, they assert that Tranche 3 Options are aligned with shareholder interests because of a highly dubious link to the listed options and yet there is no imperative to achieve the milestone for Tranche 3 Options within the time frame of the listed options. Shareholders are being hoodwinked.

This is completely disingenuous by the Directors' to offer these gifted Options to themselves without any real tangible link to shareholder interests.

The Directors' gifted options have an expiry date of 15-12-2025 - no alignment to shareholder interest here.

And the critical piece in the puzzle, the Tranche 2 Options have a window of 15-12-2021, seriously not good enough to have any real meaning to lifting the listed options in to the money. If Directors genuinely wanted to get the listed options in the money then the target date should have been at least 15-6-2021. Shareholders are being stooged. Snakes alive this is the Directors' plan.

Don't vote for the options they stink!!

This what the Directors stand for "the directors seeking election would be unable to proceed at the current levels of commitment if the options were not approved by the shareholders"