Agree @dingok ... 13m performance shares are ok if you have ambitious targets but N27 targets dont appear that ambitious - per below - 6 kt or 15 kt of Co @ .12% does not seem ambitious when you compare the resource companies at similar stage have identified (need to check these figures but I think PGM is 20kt @ .06% and BAR 41kt @ .13%) ... am I reading this right?
Are you looking at other comparative companies?
The Class A Performance Shares will convert into Shares upon the earlier of: (a) the announcement by the Company of the delineation of an Inferred or higher Mineral Resource in accordance with the 2012 edition of the JORC Code containing at least 6,000 tonnes Cobalt equivalent at a grade 0.12% Cobalt equivalent or greater; or (b) the Company selling or transferring for value of at least $5 million to a third party, 100% of the shares of Mangrove or 100% of the Company’s legal or beneficial interest in the Tenements, both within five years of the date of issue. 89.
The Class B Performance Shares will convert into Shares upon the earlier of: (a) the announcement by the Company of the delineation of an Inferred or higher Mineral Resource in accordance with the 2012 edition of the JORC Code containing at least 15,000 tonnes Cobalt equivalent at a grade 0.12% Cobalt equivalent or greater; or (b) the Company selling or transferring for value of at least $20 million to a third party, 100% of the shares of Mangrove or 100% of the Company’s legal or beneficial interest in the Tenements, both within five years of the date of issue.
N27 Price at posting:
41.5¢ Sentiment: Hold Disclosure: Held
