What are the OXR directors thinking???, page-11

Knuckleheads? You gotta be joking. It's an absolute coup in this environment to guarantee $30 million whether OXR is above 25c or not. This GUARANTEES gold mine completion. All risk gone!

Did you know that no matter how in-the-money an option is, a percentage of option owners never cough up the money for exercise?

Did you also know that 3 directors who joined up recently are working for peanuts and are relying on the shareprice being 35c, 45c and 55c for which they can then exercise with their own money to own part of the company. Think about it, they would want the shareprice to be well above these prices to make it worth their while. And these are very well credentialled people, why would they waste their time?

I would have been more concerned if all the options were under-written. As it stands there is great incentive (another $30mill worth) for the options to be safely in the money.

It is grossly unfair to chastise an excellent management team for highly unusual circumstances which are beyond their control. They will continue to concentrate on the job at hand, will produce the copper BFS, will release some excellent drilling results for Thengham, the shareprice will eventually reflect the true value and potential of the company. Hopefully then you will be man enough to apologise to management for your hasty remarks.

The only people to be worried at this stage are those who bought OXROA for a trade and lost out due to the timing of the current sharemarket mood and the short time left till option expiry. For the rest its a waiting game that will be well rewarded (at least that's the plan).

Cheers