I think you guys are forgetting why stock options exist, theya re there as an incentive to keep people in it for the longhaul. yes, this includes directors, but it also includes mid and low level management. Prices for stock options are distributed at the same price for everyone.

Your Chief Geologist, Chief Engineer, Mine Manager and Mine captains need a long term incentive to stay or they are gone to the next big mine that will give them incentive. Issuing 4 dollar stock options when the stock was trading in the 2.50 range would of been such an insult I'm sure most of your lower level managers would of quit. I've seen companies who have done this and it destroyed them in the long run.