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Ann: Mustang appoints senior resource executive Peter Spiers, page-23

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Davisite

19,420 Posts.

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23/05/17

18:33

Post #: 24866373
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Originally posted by Teddyward ↑

Wow can no one here add up???

For a simple Non exec dir role we are forking out a grand a week and effectively just gave away 2% of the company for $700,000 . Is that seriously CJ negotiating skills to hand out part of the company like confetti at such a low exercise price.

So in 12 months and one day if the price is 14 cents this bloke ponys up $350,000 to exercise and sells pockets $350,000 on top of his wage. That is a tidy payday $400k for 12 months as a non exec based on a very low share price. . At 25c share price Peter pockets $948 k for 12 months as a non exec. Bloody legend. Is MUS that desperate it had to offer such a good deal ?? Peter is probably getting more being a non exec here than responsibility MD his his own co???? It doesn't make sense

Who here is invested in this stock with all the risk involved and and doesn't expect north of $0.14 price in 12 months to stay around. ??? Everyone here is saying 40c etc.

Meanwhile other option holders are at 25c etc

Congrats to Peter Spiers he has just struck gold and done deal of his life IMO.

Meanwhile CJ refuses to indicate to holders the most basic details like telling us % of ruby's in each carat range size so we can at least be sure we aren't mining micro gems and actually have a good % in decent carat weight . To be as arrogant to say he can't explain to shareholders what has been mined as it will be likely misinterpreted?????? Kicking that detail down the road and hoping the dirt through the new plant with have good recoveries and will never have to specifically announce what we have already got? Been stonewalled by ruby buyers as GEM would allow em to buy so CJ doesn't want to announce what MUS has in case buyers hold off at GEM auction and prices are lowered ?

Well CJ that is a couple of huge red flags along with the funding crunch . Seriously he and Paul Allen the Geo can't explain what they have pulled out but keeps pumping value of the rough stones and using GEM auctions data as comparison???

This doesn't smell right whenever you have a MD who comes out and say shareholders are to dumb to understand??? Everyone here has sucked it up and is congratulating him?? If he can't explain it he shouldn't have the job IMO . perhaps he doesn't want to say publicly just what a wild west cartel the Ruby buyers are and GEMs market power ATM. . How the hell is he going to explain it to a dumb merchant banker for mezzanine finance ( read sprial debt) and get a good deal when he can't spit out the words for shareholders.

MUS should put up some selected batches for private tender as soon as they are graded - seriously ruby buyers will turn up to a opening of a envelope if there is a $ in it for them as CJ has already said market demand is is strong ATM..

With a sidestep as good as CJ should be playing for the Springboks

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You can't have it both ways - it either is a good deal for Peter or if MUS is a dud he is getting done over. If it is a good deal for Peter it is a good deal for us shareholders - based on today's share price increase he has already paid us for his options.

Peter is not going to be your normal non-executive director. You don't appoint someone with Peter's background just so you have someone to sign off on the paperwork. He is there to provide CJ with the guidance and support we all know CJ needs. My only wish is he had been around in April so we could have avoided the whole communication fiasco that tanked the SP.

Last edited by Davisite: 23/05/17

MUS Price at posting: 4.6¢ Sentiment: Hold Disclosure: Held
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