It looks clear-cut to me. As per number 2 coming up.
Compare what you have posted with what was the previous deal as per the 9/1/12 ann: "Upon exercising of the option to acquire the Doolgunna Project, RNI will pay Ascidian $2 million cash and three million ordinary fully paid RNI shares."
Ascidian has been extremely co-operative with RNI, very favouring too I'm as re the new terms. It makes one think that Ascidian wanted RNI to fully explore Doolgunna and not a company such as SFR.
Ascidian gets $950k in cash instead of $2m, but a very big swag of shares - $600k's worth at a max price of 2c.
10m by 7/7/16, and
20m by 7/7/17.
So, he was prepared to take shares in lieu of cash.
NB too.The new deal was struck well after the Monty numbers had developed, but going back to june last year, a month after Monty, Ascidian could have dumped cash-strapped RNI by not extending the option again before 1/7/16.
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It looks clear-cut to me. As per number 2 coming up. Compare...
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