not happy to report..

That what was thought to be true is.

The current option packages posed are absolutely FREE - there is a vesting period but that is all.

That each and every Part Time Non Exec Directors will receive $3M worth of options on top of what was granted last year if all Share Holders throw their hands in the air and say this is too hard. That will have our current part timers earning nearly $4M renumeration when we are sitting anywhere near $1.00 within a time frame of 18mths - a very realsistic term and price expectation that had previously been achieved on the back of sector appreciation alone.

So instead of having another $4M in the bank to drill with when we are low on funds, what is being asked is we as company owners give that amount of money to a bunch of Part Time Directors.

I understand there will be silence to this post which only goes to show there is more than just acquiescence to my view that this is just absurd. I feel like I am Tony up against Julia. Arguing for something that is right against spin spin spin - I could say more but I dont want to be "censored"...

Interestingly this anouncement was tabled well before the next general meeting so share holder sentiment could die down. Like last qtrly review when instead of providing a cash position in the Qtrly, it was absent yet on the same day there was a company release of a media coverage statement that well be out dated if we go on the companies last stated accounts.

Every Share Holder has a right to vote - you need to be very caerful - this company which I am sad to say, is starting to develop more than just the occasional sign of spin and timely announcements and they appear to be doing little but feeding off each and every one of us.

And we wonder why there has been no new money to what is one of the most promising resource finds in the last decade.