Some interesting comments there RMinvest .
I noticed that some of the old performance rights that were scrapped were tied to market cap and also the payment of first iron ore shipment , this is something i would liked to have seen instead of what was presented , they were credible milestones that would provide value for shareholders .
Im not keen on MOUs, ,they arent worth the paper they are written on , id like to think that with the demand for Pig Iron these guys are well able to sign a binding term sheet or binding offtake ?, why use an MOU as a performance hurdle , it doesnt exactly fill me with confidence .
I am all for rewarding management with performance shares i think awarding incentives are good and can be very positive and productive for the company , but i think if they are getting rewarded then shareholders have to be as well , and on that i dont think MOUs will move the share price or create and value for shareholders whereas the board will be getting a lot of shares ,so this seems a bit one sided .
Anyway just my musings for now .
MGU Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held
