keeping the lid on it, page-3

Here's a post i made over 4 weeks ago on another forum which sums up my thoughts on pre AGM news and why i thought we wouldn't hear anything before:

"Personally i don't think we'll hear much of importance until at least a day after (or at) the AGM.

Why? Check out page 9 of the Notice of Annual General Meeting for the answer, namely "Resolution 5 - Issue of Options to Director Richard Green".

Resolution 5 proposes that Mr Green is offered 25 million options at an exercise price of 1c and a further 25 million at an exercise price of 2c. If the price is over 1c by the time of the AGM then the first exercisable milestone will already have been hit and no one is going to agree to it unless the targets are stretched a little.

No incentive for them to drive the price up with good news untill his resoultion has passed in my opinion." (end of quote)

Like everyone with a stake in NWT i hope the AGM brings good news, but if we were going to have an AGM full of price moving news then it is very unusual that we wouldn't have been seen more encouraging buying in the days prior.

Maybe my expectations are lower than others, but i would be very encouraged with:

- Appointment or news of iminent appointment of new directors who have a proven track record of success in a similar industry (names included, not just non-specific wording)
- Greater disclosure of the companys projects, financial position etc
- MORE DIRECTOR BUYING AT MARKET. HOW CAN WE HAVE ANY FAITH IN THE DIRECTORS WHEN THEY HAVE NO BLOODY SHARE HOLDINGS THEMSELVES. THEY HAVE TO HAVE MORE SKIN IN THE DEAL.

I encorage anyone attending the meeting to strongly raise this issue. If its isn't discussed at the AGM, then when?

How about a proposal that the amount of options issued cannot exceed the respective directors personal share holdings. Eg Green only currently has around 7 million shares so he cant be issued more than 7 million options. Unusual measures yes, but you have to take the history of the company into account.