resolution 2

Hi folks

just reading through the notes for the general meeting and was wondering about what other people were thinking..

page 18 point 2.3
"...grant to each employee the same number of options as is currently held by that employee......because the exercise price of the existing options is significantly below the current share price....do not adequately incentivise employees."

does anyone know who the 9 lucky ones are? what their role is? what their current renumeration is?

Should we have to incentivise them anymore than we do by offering them a wage along with their current freebies.

Page 20 sets out a bunch of new options for directors.

IMO, if your argument is that it is too difficult to achieve your exercise price and you deserve some more balanced and achievable objective. Then you should void your current options. Otherwise you might as well have written the SPP out saying 1 for 2 options on new shares unless your a director in which case you get 2 for 1. And still I would like to hear them state they have or atleast intend to take up their rights.

Now dont get me wrong I think we need to give them incentive to keep things going forward and they should be rewarded for success. However as per the SPP, its those that finance the exploration that are the ones that are really taking the risks and deserve the greatest rewards.

For those that need to know. I have my rights, I have brought some more. I intend on taking them all up.
I think the head price will hover 9 - 10.5 till the new options are listed and then increase slightly until the first drill hits the dirt and then......who knows.