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Hi junctionhills....

No "iffy" for me....

IMO mgt are incentivised to ensure a high degree of motivation to achieve their targets.



As far as dilution is concerned....


At,say a sp of $1....

a success fee of $20 million for 100 million tonnes indicated resource is only a 4.8% dilution for holders.(based on the current FD 412 million shares)

At max success fee of $100,000,000 after a 500 million tonne indicated resource....I don't know what the dilution percentage would be but I daresay the sp will be a lot higher than $1.


This is a very competent mgt with $51 million in the bank after the recent cap raise at a mere 6% discount.


And while it does seem like a sweet deal for mgt,I'm happy to go along for the ride.


Cheers