I am pretty much onside with you on this, Dennis, in that this is only a job to them. And as is often the case, who cares, as long as the paycheque keeps coming in, and in , and in. Can't even fire them, as they are at the top of the money chain, so to speak.
Where I differ is on the options issue. Over the five years or so we are talking about, there has seldom been a time when the options outstanding were in the money.
As it stands, the only incentive we can offer these guys to encourage them to somehow force the share price up, is through the issue of options to themselves (remember, if you will, that Wes left a mill/year job to take on this one. His pay, on starting was about 200k/year plus 800k worth of options). There is a limit of 10% that can be issued, so I would imagine a good bunch of the original options have expired as valueless. However, with the accounting pricipals used today, there had to be a value placed on those options when they were granted, and they had to be reported as income of some sort at year end. It is not a simple case of them lining their pockets for free with options at our expense.
While there is always the tendency to rag on the BOD as the cause of our languishing share price, and I fully enjoy any opportunity to do so, it is unclear to me just what they could do.
Many here have used the example of them giving away the gold to EAG, yet despite the hits they have, their share price is at an all time low.
Some have suggested they drill, drill, drill, to find more. At a mill or so per hole,how would they finance this, when the real concern is whether they can stay afloat for the winter as is, without having to dilute again?
The hard fact is; There will be no notable share price increase until we come out of the present phase of negotiations that are ongoing. At the end of it all, there will be a press release, with prov and federal entities, native cheifs, Noront and Cliffs, all standing for a photo op, announcing agreements allowing this to move forward. Untill then, nothing matters.
Best regards
K