Tread carefully, land mines everywhere, page-13

From the last annual report.

Incentives are payable to Executives based upon the attainment of agreed corporate and individual milestones and
are reviewed and approved by the Board of Directors. In 2022 no cash incentives were paid (2021: nil).
Executives are issued with equity instruments as LTIs (long term incentives) in a manner that aligns this element of
remuneration with the creation of shareholder wealth. LTI grants are made to Executives who are able to influence
the generation of shareholder wealth and thus have a direct impact on the creation of shareholder wealth. During the
2019 financial year, the Company issued 2,250,000 performance rights to the Managing Director, Mr Todd Williams.
The vesting of the performance rights is to take place in three tranches, which are subject to performance hurdles
relating to the consolidated entity achieving 100% JORC resource targets detailed in the performance conditions as
below:
Tranche Performance conditions
Tranche 1 750,000 Performance Rights that vest once the Company achieved a total resource inventory1
,
in accordance with JORC guidelines, of more than 300,000 ounces of gold at a 0.7g/t cutoff grade;
Tranche 2 750,000 Performance Rights that vest once the Company achieved a total resource inventory1
,
in accordance with JORC guidelines, of more than 500,000 ounces of gold at a 0.7g/t cutoff grade;
Tranche 3 750,000 Performance Rights that vest once the Company achieved a total resource inventory1
,
in accordance with JORC guidelines, of more than 750,000 ounces of gold at a 0.7g/t cutoff grade.
1 ”Total Resource Inventory” means a combination of Inferred, Indicated and Measured Mineral Resources reported
in accordance with JORC2012 over one or more of the Company’s projects located in NSW Australia or Argentina.
Consolidated entity performance and link to remuneration
Remuneration for certain individuals is directly linked to the exploration findings of the consolidated entity.
The performance rights issued to Managing Director, Mr Todd Williams, as noted above, are subjects to performance
hurdles relating to the consolidated entity achieving 100% JORC resource targets detailed in the performance
conditions.