current price equivalent at 7.6c !!, page-14

Anonymous1,

You claim there is a confict of interest (that Any Court would agree with) because management have options which are dated after the publicly sold options.

I think you misunderstand what "conflict" is.

For there to be a conflict, management would need to have a benefit or penalty associated with the public options.

In fact, to tie the management options to the public options would create a conflict of interest, because the management would receive a benefit should the public options become valuable. However, in this case I see nothing wrong with this conflict of interest.

The case that you are presenting is that management has no personal fiscal interest in seeing the public options succeed - showing a LACK of Interest in that result.

I disagree with your conclusion too. $48Mln is extremely important to the company's shorter term future (the next few years) and would allow a much faster increase in production. The management know how valuable this is to the company.

I think also you are glossing over the requirements for many of the options to become available to the management to purchase - the requirements that the share price hit certain targets before they can in turn invest their own money to buy the options.

However, let me be clear - I do hope the company will do everything in their power to make the public options succeed, including but not limited to a re-issue to holders with options with a longer date should they be close to the target price.

- Karl