Warennie,1. I'm sorry, but that is a convenient explanation that...

Warennie,

1. I'm sorry, but that is a convenient explanation that gets thrown out there all too often, and suggests that the ethics of mining companies are questionable.

2. As above, if a 1000 companies are taking this right away from shareholders, then the ethics of 1000 companies should be questioned. 2 wrongs don't make a right, and neither do a 1000 wrongs.

3. Many companies have employee share plans and they are worded as such. If you want to create an employee share plan to reward permanent employees then badge it up as just that so it is clear and transparent. Anyone can join as a contractor and provide services, and that is a big risk.

I disagree with my shareholding being diluted further without my consent to unknown parties. And given the returns that have been delivered to existing shareholders to date I am not prepared to blindly trust that the directors will put shareholder interests above their own. If there are a 1000 companies in the same boat, and if the mining boom is over, there will be plenty of qualified mining directors that can replace the existing directors at a lower salary. Directors need to step up, start making some sacrifices themselves, and earn shareholder trust. Agency theory - it's a well documented concept.