Looking at their 2003 prospectus suggests why the key staff have little in the way of shares.
Most floats issue some shares and options to managment.
In DNL's case only options were issued. unfortunatly for Jeremy and the team, when the options matured they were well below their excise price....so they lapsed.
Two points should be considered. One: managment were not greedy in the float. Two: Options were not free. they had an excise price above the list price (do I hear performance incentive?).
I don't believe DNL has a problem if managment holds little stock, instead it shows they are perhaps more ethical than many guys that have listed companies during this current boom and lined their pockets during the process?
I wish Jeremy and the team all the best with the Maun project, it sounds like a ripper. Botswana is an A rated country which supports the mining sector like Australia should! I wait eagerly for the JORC numbers.
DNL Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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