I see another 4mill 30c options expired on the 10th December out...

I see another 4mill 30c options expired on the 10th December out of the money as have the majority if not all of cto options over the years.It would seem the remuneration committee are well ahead of the game and understand that using options as an incentive for management performance, they haven't performed and nor has the mine!

This from the 2012 annual report makes me laugh:

The Company competes for labour in the broader resources industry, where the demand for employment remains high. In
selecting, retaining and remunerating directors and executives the committ ee considers the appropriateness taking into account the corporate and operational regulatory environment that a mining enterprise operates in these days in Australia that places substantial and ever increasing burdens of responsibility upon these officers of the Company in addition to the usual business performance.
Reward structures are transparent and are aligned with shareholders’ interests by:
? being market competitive to attract and retain high calibre individuals motivated and skilled in the business of the Company;
? recognising the contribution of each senior executive to the continued growth and success of the Company;
? encouraging, recognising and rewarding high individual performance; and
? ensuring that long term incentives are based on total shareholder return outperformance over a period of three years.

Draw your own conclusions on who the "High Calibre Individuals" are, more like low calibre duds IMHO.

DYOR My thoughts and ramblings only