The point remains that WM and CO, were going to award/reward to themselves those famous options based on nothing.
If there was a JORC released which was favourable in the Copper content as previously anticipated and promised, then IMHO there wouldn't have been so much resentement and the possibility was there that they could have been approved. But they were expecting to get them approved (and quite a large amount of them based on the pretence of defending the company from a T/O point of view mind you), without giving us anything in return, and as to why we should have had them approved. I also believe that IMO Management at the time, would have been aware that the JORC would not stand up to expectations. Read all the Announcements and you'll see as to why I think along that way.
As stillthefoxhat wrote, if it wasn't for WM exercising his voting powers, none of the others would have got their options either. And IMHO, they shouldn't have had.
As for me, I never approve that a Directors should use his voting powers to approve options for another Director, and never will. To me it is simply a case of scratching each other's back for their own self interest, and it plainly sucks!!
Good luck,
Buddy
CDU Price at posting:
$3.09 Sentiment: None Disclosure: Held
