options option, page-27

Rice, I don't know how you do it, but you are VERY well informed. I'm very happy to see how well MLS is holding up to everything - falling zinc price, option typos, etc. Not a good week for MLS last week!

The stock is holding its own and has a lot of support in the market - its a really good story! Obviously some holders have voted with their feet over the option issue, and that's fine, but I'm expecting MLS to bounce back along with the zinc price.

Anyway, in answer to Tangrams query....I still firmly believe that zinc has a good long term outlook, sure it may not be trading at it's recent high's but only nickel is (and that is because it's controlled by the 'cartel').
If I knew the zinc price was going to drop 10% on Friday, I'd elevate myself to God status and retire!! Only joking but I notice it seems to be bouncing nicely tonight anyway....?
There are very sound technical reasons for a good long term zinc price ($1.50-1.75/lb+), but if people would like to know about that, I'll do a more specific post later (even if my boss does kick my a#%e).
The hedge funds are always the 'wild card' but that can't last forever!

In respect to the $40,000 for the 100 mill options - I knew! I read the announcements, I'd spoken to the company, I know why it happened (and the story is not nearly as sinister as what you may believe, but it's not up to me to tell it, ring and ask them?).
I've said it before, it wasn't the greatest deal, but it got the money in the bank when the sp was around 2c!!

If I was RM, I'd have taken it all in cash!! All they got was 100 million sheets of toilet paper at the time - I guess it gave them an incentive to support the stock??? Is that a bad thing?? I think the MLS crew are very aware that it wasn't the best deal, but it was what had to be done to seal the deal at the time? Thank God it isn't 350 million! I'll be first in line with a 'please explain' should it happen again!!

The options going to directors - have you looked at what these guys don't get paid? I wouldn't go on a board for that money (enough said).
The company has gone from 2c to 7.5c in six months, that's a pretty good result, and personally I'm very happy with their performance (having bought my stock between 1.8-5c).

Overall, yes the stock is further diluted but there will also be more money in the bank to fund their work program. I find it amusing that not so long ago when the stock was running, these guys were heroes and could do no wrong - now they are villians! Human nature I guess?

I understand that MLS have been doing some really good work, and I'm looking forward to hearing more about the upcoming Manindi drilling and the uranium in Namibia (it's taking long enough).

I'm a believer and I'm still holding my MLS stock - maybe I'll regret it? I doubt it though!

I'm hoping to catch up with the MLS guys at the zinc conference in Sydney this week. If they are there I'll be asking a few questions, and let you all know how I go.

Finally, it's time to move on, but I certainly hope that anyone bagging this option issue isn't going to be trading them? We'll see I guess.