starting to make a move 10 cent close, page-18

interesting observation worth noting Taking an extract from the CEO response quoted in a previous post:

"to earn US$65m in EBIT in 2008/9. If I can do it - then at a P/E of 12, at $A 10 cents EBIT a share (at 0.74 exchange rate) its A$1.20 share price and that doesn't include the asset value".

If the CEO believes the share price could be $1.20 in 2008/2009 and the options are granted in the 10 cent granting periods, profit from the 37,000,000 10 cent Options could be (37M x $1.10) $40,700,000.

Remember, the exercise period is 3 years from date of granting the options. That's interesting too.

Seems to me that a potential profits of $40M is very EXCESSIVE. After reading the CEO response, I think the options should be much higher than 20 cents. This stock is set rocket.

Would really appreciate others view on this matter.

I'm voting "NO" to the CEO options and am fast losing confidence in the Board for proposing these options at the AGM also. I think, it's time for a change.