Perhaps it was the announcement that the Board can pay themselves 20% of the net cash flow (up to a maximum of $1.2 million) without including exploration, development and administrative costs whereas page 8 of the Annual Report stated for the previous year (2012) bonuses would be earned by meeting the thresholds of three performance criteria: share price growth, reserve growth and production growth.
As these criteria were obviously not met they appear to have changed the rules and now intend to reward themselves on net cash flow irrespective of the sp and net profitability of the company. I don't know of too many companies that reward their key personnel on anything but profit or share price growth. Neither does the market apparently.
SSN Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
