GREY:LEWCF - Post by User
Comment by
smokeythebanditon Feb 28, 2011 7:14pm
256 Views
Post# 18208271
RE: RE: RE: RE: RE: RE: MARCHAND NEEDS TO STEP DOW
RE: RE: RE: RE: RE: RE: MARCHAND NEEDS TO STEP DOWCrystalene,
In response to the question about the insider participation in the PP. I did receieve an email from Mr Marchand at the time of the placement. I had asked that very question, "will the insiders be participating". His response to me was that they will participate in whatever is left over in the placement. I guess becasue it sold out there was no further room. Also I know they could have taken a chunck if they wanted to but perhaps due becasue the corporate salary structure is so low, they participate through options anyways and fill their pockets with stock that way.
As mentioned earlier, I did not see anywhere to suggest the $60,000 salary that is being taken (please correct me if Im wrong, or point me to where it states that). But even that is a fairly modest salary for a junior explorer, so I really have no problem with the options.
I do agree with some earlier points though that there have been a lot of mistakes made by the Mr Marchand in the way he has handled things, but one thing to be cautious about if a new president is being sought by the shareholders is that we dont want to marginalize Jim Davis along the way. I beleive he is the single biggest asset the company has and knows more about Nithi than anyone else, and it would not be wise to bring in another president that would have his own staff or change the favorable relationship we have with Taiga.