I don't think any of the directors are really buying in here. These options are being funded by their after tax directors remuneration, meaning it's a cash free / tax neutral transaction for them.
I've been disappointed this last 12 months with the lack of transparency from the board regarding Batu Hijau. If I recall correctly, we were told in Sept last year the new contract was only a few months away and still nothing.
Under The Radar, page-132
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