Just perused the past couple of annual reports by Argonaut...

Just perused the past couple of annual reports by Argonaut Resources.

Lindsay Owler's salary package in 2012 was $302K. In 2013 his salary package goes up 22% to $369K. At that rate, next financial year's salary package could very well be $450k.

We will need more than placements just to be able to pay their salaries, let alone any salary increases.

Bad, bad form by the directors!

As mentioned by an earlier poster, if they really, truly believed in Argonaut, they would be putting their money where their mouth is and buy shares at these bargain basement prices.

And maybe they should have considered a salary "decrease" last financial year. In the current state of the market, they should have been grateful that they have a job, let alone try and fleece the poor suffering shareholder with a salary increase.

But oh how lucky we all are!

"The Company will undertake a 1 for 5 rights issue on the same terms as the Placement to raise up to a further $1.5 million".

We are actually going to be given the same placement opportunity as given to "the sophisticated and professional investors". We, the unsophisticated and amateur investors should be salivating at the mouth to be given this once-in-a-lifetime opportunity, especially when the recent placement to the genius investors was highlighted in Argonaut's announcement as "oversubscribed".