william1982haha skin in the game? ian reid was given 27 million...

william1982

haha skin in the game? ian reid was given 27 million of those shares for free for his shares in osiris in 2008. osiris only had a vlaue placed on it due to the work panax was doing. So in the end, payment of 14 million dollars to osiris shareholders to acuqire their sedimentary aquifier tenements was a total waste of cash considering australia is doing nothing on the geothermal front now and the first well we did at penola turned up with problems(the hole was done on osiris tenements). how valuable was the osiris assetts in the end? not worth $14million if you ask me and is probably a write off just like origins assets.

panax spent 14 million buying it and another 15 million drilling it for a return of zilch.

Ian reid has only topped up at 2c and 0.7c so hes only really put in 200k all up when he bought on the offers at 2c and 0.7.

38 mil shares at 0.6c make ian reid in profit because it was initially free... i wonder what that cost him to set up osiris in the first place? From experience not much at all. dont forget he gets paid every year as a retainer for his experiecne and expertise. frankly i havnt heard or seen one thing good come from his experience yet. so the 200k he has put in....well we've paid him just about that amount on retainers so far.

make up your own mind. speculating