latest drilling resuls, page-5

please put it into perspective....

there is no "they" in the push for options. rather it is "he" MD & CEO, Scott Lowe.

and "they" are only asking for Scott to be granted 3 million options, exercisable at 45cps upon in 3 installments with the sp having reached high's of 60c, 75c & $1 respectively...

it is a very modest options plan for a MD of Scott's experience (20+ years with BHP). the options are not free, they will cost Scott 45cps to exercise which is around a 30% premium to the current sp.

in order for it to be worth him to do so & to be able too the sp will have to be north of 60c, and to fully exercise the 3 million it will have to be north of $1....

so very very modest compared to some of the rorts i have seen by other companies. in fact i think it is entirely reasonable. am quite surprised other directors havent asked for the same entitlement, but then again - things have tightened up a great deal over the past year or so.