Whats Happening, page-19

I agree - emotions need to be checked at the door. But as you say, it is question time.  I'm questioning:

• Why are these performance rights needed to deliver Phase 3?
• If we do not have these performance rights, will Phase 3 fail to deliver?
• Is there an implicit acknowledgement that management were insufficiently remunerated for earlier phases to ensure they got it right?
• Are the vesting criteria for the performance rights aligned to what the company has revised its spending budget to, for Phase 3 (i.e. quantities aligned to 500 ktpa revised target, rather than superseded 400 ktpa target)?
• Why should any performance rights vest at 50%Fe ROM output grade?
• Is Phase 3 being built to operate at 58%Fe ROM output grade?
• Is achieving a 58%Fe ROM output grade sufficient to get repeat orders at a commercially attractive price/margin?
• Given our history with Phase 1 and Phase 2, should there be a significant portion of performance rights vesting dependent on sales (at acceptable profit) of produced output?

And the answer to these types of questions, help me answer the overriding question in my mind as we face the AGM: if these resolutions that pertain to performance rights, pass in current form, is my investment and its outlook more secure, less secure, or unaffected?

IMO.