Ann: Notice of General Meeting/Proxy Form , page-2

C$7.4 million, the second largest cost component of the cap raising, is going to pay staff and "internal consultants". Frankly I reckon the bulk of the dough should at this stage of development be spent drilling core and finding more coal.
So, can any CPL holders with experience in early stage resource investment allay my concerns? Is it usual for so much of a raising - approximately 18% in this case - to be trousered by the staff?
And while I'm having a whinge, although I'm all for issuing performance shares to retain key execs and non-execs like Wusaty and Turcotte, what's with contractors getting stock? I feel like one of the few mugs who actually handed over coin in exchange shares and confess myself peeved.