Personally i don't think he is worth 10% of this company considering there is a JV on the cards with or without him.
I don't like the announcement, but i suspect the market will. At least the share price has to go > 5cents within 18months before he is eligble to aquire the full allotment of shares. So we know that he has incentive to keep the company heading north (at least towards 5cents).
Having said that, i feel we would get to 5 - 8 cents on JV news alone. Plus good drill results and 10cents by xmas is not out of the question. So that means he only has to stay in the job to be eligable to aquire them and bugger off by early 2011 with 10% of the company under his belt.
On a side note - the free $4million dollars we are going to loan him at 0% interest for 5 years means we miss out on > $1million bank interest over the 5 years. PLUS he will be paid a salary (currently undisclosed). Don't forget the cost of drilling which is kicking off sometime soon.
Guess what this adds up to people? More money needed! Current cash on had at 30 June = $1,516,952 That isn't going to go far. Lets hope everyone converts their oppies which are looking VERY well priced at the moment.
Anyway this is just my view feel free to ignore it.
ATI Price at posting:
80.0¢ Sentiment: None Disclosure: Held
