partly paid shares, page-69

Humms, I actually don't know what you are talking about.
I remember back in 1999 when I held shares at 12c and they were granted 1c fully paid shares. What do u mean they are not leveraged. Of course they are as they haven't paid for them. Also don't u think if they had been doing a better job the share would be higher and they would most certainly not be underwater. It is their failure to drive the share price up and your failure for allowing them to continue.

Let me ask you the question. If you had an adviser responsible for managing your money and you paid him ver very well to do so, how long would you let him go destroying your wealth before you replaced him?

In terms of directors insurance they can take this out. What an odd comment. I have many friends who are directors of asx listed companies. Insurance is there for negligence.

I ask you this. Rather than issuing more partly paid shares at a discount to the price ordinary shareholders can buy them at, simply offer them the equivalent in options with a 3 year vesting period and a strike price of 6c? I will tell you one thing, there will be far more incentive for them to work to get the shareprice above 6c within 3 years. As it stands at the moment, there is no urgency.

Again, a couple of my friends who act as mdl and chairman of 3 similar sized mining companies are paid $180k including super (ie the MD), with options issued as an incentive (out of the money). Their experience runs rings around MT. So why is he being paid more than double with a generous employer share plan? It is not as if he has made anyone money.

Willcox, the other question u may want to ask is if you have partly paid shares and you retire or leave the company, what actually happens?