Excellent post Ryobal
Truth is you see it in every mining exploration company....A sense of entitlement amongst Boards that we should somehow be thankful for their very presence by alloting them options....in 99% of cases, they deliver nothing, dilute us all to hell and carry on rewarding themselves until the music stops. Why on earth should non-exec directors receive options? They are chair fillers and get paid for this.
From the latest announcement regarding options: " The Board acknowledges that the grant of related party options to Messrs Willesee and Bresser is contrary to recommendation 8.3 of the Corporate Governance Principles and Recommendations as published by the ASX Corporate Governance Council.....but that the grant of these options will allign the interests of the related parties with those of shareholders"
What hogwash!...If they think their interest aren't aligned they should either leave or buy shares like the rest of us.
Fed up with this " snouts in the trough" mentality.
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