Like Snug and Kelsee have said, it is not a big deal that Neil sold 500,000 shares. It might be misleading though to say that he doesn't receive a monthly paycheque. He doesn't, but he is compensated in ways other than stock compensation which I assume he receives.
From the latest MD&A:
TRANSACTIONS WITH RELATED PARTIES
For the three and nine months ended September 30, 2009, the Company paid $24,000 and $72,000 respectively, (three and nine months ended June 30, 2008 - $24,000 and $72,000 respectively) to Nominex Ltd. (“Nominex”), a company controlled by Neil Novak, the President and director of the Company, for
geological and other services. At September 30, 2009, included in accounts payable and accrued liabilities is $8,400 (December 31, 2008 - $8,400) owing to Nominex for management services provided.
For the three and nine months ended September 30, 2009, the Company paid bonuses of $51,300 to officers of the Company (Neil Novak $28,800, James G. Burns $4,500 and Richard Hamelin $18,000) (three and nine months ended September 30, 2008 - $nil).
Directors’ fees for the three and nine months ended September 30, 2009, amounted to $11,250 and $41,250 (three and nine months ended September 30, 2008 - $nil).
