Fair enough that there is a performance clause attaching to the...

Fair enough that there is a performance clause attaching to the options part of the package find8, but they are still accorded a present cash value in accounting, which I believe is reasonable. From one angle they might not be as good as cash and might even end up worthless. From the other angle they can turn out to be better than cash, and it follows, a real cost to shareholders. So if the accounts are saying that the options remuneration for Frost in 2007 had a present value at that time of $436k, then that's the amount I assert he's being paid in addition to his base fees.

I've noticed of course that we hold some of the same companies, so you'll probably know what I mean when I say that performance hurdles can turn out to be illusory. Not that I'm saying that is the case here.

On the other point that management is only one factor to consider, albeit an important one. Yes, but I guess it's become close to a critical factor for me. So if that doesn't look right I'm inclined to go on the next prospect. I mean, I assume none of the companies listed, in which he has played a central role, have paid any dividends? So that just leaves share-price appreciation as a measure of value that he has created for shareholders over the years, in return for the present value of his amassed fees. The charts are saying that every listed company with his central involvement has a price that has drastically depreciated from go to woh, except MLI which has gone nowhere. So I read that as Frost having returned a destruction of value.

Finally an inground resource only has value if it can be extracted profitably, as I dont really have to tell you. Inground value can turn out to be a total fantasy. Currently the in situ value of Intec's tailings dam would not be far shy of A$3 billion, but the market gives them little if any value because it is pricing the company for failure.
Anyway I'm probably not adding any value to discussion now. I just thought the past companies' SP performances might be of interest, plus the impression of one newcomer.