THB 5.00% 2.1¢ thunderbird resources limited

what does this imply

  1. 55 Posts.
    "10,000,000 options exercisable at $0.02
    each on or before 30 June 2012 (vesting on
    the achievement of one million ounces of
    gold in JORC classification)."

    This is from Appendix 3Y page 1 released on the 18th.
    was wondering what "vesting on the achievement of..." meant? And am i correct in thinking that this director believes that they will have a Jorc by June next yr stating that VOR has at least 1m oz of gold? i am very new to this game and any comment would be greatly appreciated thanking u in advance.
    Gravy
 
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