Brunod29 has accurately interpreted my comments regarding the impact of iron ore on this project. Quarterly has again highlighted this point with both drilling commentary and maiden iron ore resource announcement.
Unfortunately we maybe distracted by AGM resolution relating to issue of options to directors. 17m options to directors at an exercise price of 18.75c subject to easily achieved hurdles. This will test faith of instos who have come on board and could undermine some shareholder confidence in the board. THe value of these in the money options will be about $6.2m !!. I'm a no vote on this. Anyone see it differently?
BDR Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held
