Just a few quick notes while reading the last MPC...
- Our president owns about 9.5MM shares of the Corporation + about 7.5MM options. His cash salary is $ 240 000. Separation pay upon termination without cause following a change of control is $1.9 MM in cash. (These figures may help anyone feeling 'tired' à la Novak during the course of a TO! I'm however confident Frank will stay solid as rock when the bidding fight happens!)
- The great majority of the outstanding options (ie around 15MM, with exercice prices 10-12.5 cents) expire between Oct 2014 and Dec 2015. In fact, about 12MM of these have an expiration date in 2015!
- I was surprised to learn that only 6.8MM shares have been bought back by KWG between October 2011 and June 2012. KWG has the right to purchase the remaining 25MM allowed until October 12, 2012.
- The Meeting will be held at Norton Rose's law offices. (They were on the other side of the street with Macleod Dixon not very long ago!). What happened??? Be cool, both firms mergered in January. Norton Rose is probably the best resources and mining law firm in Canada, and probably in America. Good for us!
GLTA.
BaBe.
