The following table lists the inputs to the model used for valuation of options:
b) Valuation of options issued
(i) 4 million unlisted options
In part consideration for the provision of corporate advisory services to the Company, the Company issued 4,000,000 unlisted options
to Verona Capital Pty Ltd. The options have an exercise price of $0.20 each expiring on or before 30 June 2017. The options will only
vest and become exercisable upon the voluntary holding lock in respect of the VHL Shares being released.
The options are amortised over their expected life, being 5 years, and included in the fair value acquisition cost of exploration and
evaluation expenditure, and are therefore written off in line with the treatment of exploration and evaluation expenditure.
As at 30 June 2017 these options expired.
(ii) 3.5 million unlisted options
On 22 July 2014, 3.5 million unlisted options in two tranches of 1,750,000 were issued to Key Personnel
for their past and ongoing services to the Company.
These options expired on 30 June 2017.
(iii) 2 million unlisted options
On 23 January 2013, a total of 2 million unlisted share options were issued to Mr Paul Cranney in consideration for geological
consultancy services provided to the Company.
The options were issued in three tranches and have an expiry date of 23 January 2018. The options are amortised over their vesting
date, and are expensed accordingly.
These options were fully expired as at 30 June 2018.
Notes to the Financial Statements