You've nailed the over generous options breakdown.

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stempleton72

43 Posts.

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15/11/22

20:02

Post #: 64791182
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Originally posted by forbearance1: ↑

I agreed to 7,8 and 9 as the exercise price is a fair bit above the current share price and expiry only 6 months away.

I voted against 10 as this seems like an overly generous gift. I believe directors also have "that facility" where they can essentially get free shares by forgoing some options that are in the money. ie if a director has 2,000,000 options exerciseable at $1 and the share price is $2, they can exercise and take 1,000,000 shares without putting an cash down.

This is the main reason I voted against 10.

The 5,750,000 options proposed in resolution 10 could effectively raise "$0" and issue 2,375,000 free shares (if share price is $2.40 by Nov 2025

If that facility wasn't available, then I would either abstain or support, because the 5,750,000 shares would yield $6.9m which would be a decent contribution to reports/exploration.

At least Craig has been buying some shares on market. Rodrigo & Anna seem like good names to have on board but I'm unsure of their contribution to date. I suspect they will be key to delivering a final feasibility, a decision to mine and securing funding, but that still feels like it's a bit too far away to start loading up on options.

I'd be support of generous performance rights for key milestones, and milestones that translate to profitable mining , not just ounces.

Also, on the "skeptical" note, I wouldn't expect any juicy announcements till "after" the meeting on the 29th.

If we have news good enough to push the share price above $1.20 then how silly would that look issuing options that are already in the money?

Hence my expectations are for a strong news flow first couple weeks of December

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You've nailed the over generous options breakdown.

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Last 14.0¢		Change 0.000(0.00%)		Mkt cap ! $38.07M

Open	High	Low	Value	Volume
14.0¢	14.5¢	14.0¢	$40.07K	284.9K

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You've nailed the over generous options breakdown.

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You've nailed the over generous options breakdown.

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