naive lamb,
I can see your point of view. However, I am satisfied of the reasons they give for the share price decline and explanation of the why Mackeral did not proceed.
They certainly haven't been good at providing information to the market on these things previously, which suggests to me that 1) they are hopeful that the JV with EV Metals is not dead and can be resurrected and 2) that management at the time was heavy with Geologists and excluded David Ledger and they need help with these things other than exploration which is what David Ledger brings with him. If it takes 4M options to do this, then so be it. He does have to put his own cash eventually to exercise the options if the share price is high enough, which of course is in all shareholders interests.
Anyway, these are my reasons for voting in favour of the options.
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