I think the company is progressing well but I don't like the metrics that have been used for pricing these director options, I think 10.5c strike price is too low. I think that bar should be set at a minimum of 20c and closer to 25c. It feels to me that they are just trying to reline their pockets due to higher strike price from their last set of options (68c).
I also don't see a justification for the chairman to request twice the amount of the other Non-Exec directors? Maybe he could ask for 50% more, but double is just being very greedy, I do not believe a non-exec chairman role is nearly as demanding as that of the MD or CEO. I'm definitely voting against his option request..... the others I'll have more of a think.
Also note they are about to exercise their current options - expiring next month.... that will cost them around $420k in total to exercise. So it will be interesting to see if any of them sell down their existing NXM shares to pay for that. If so the total would represented around 2.5mil in share volume (priced at 17c) so if one or more do sell down their existing NXM to fund their options exercise payment it might put a short term cap on the share price until mid Nov.
Add to My Watchlist
What is My Watchlist?
