Follow the Money
If you study pages 54-60 of the Mgmt Info Circular, you see that the financial interests of the Board and management are not aligned with we shareholders who believe there is much greater value in the mine and the large land package Pretium controls. Here are the number of shares owned and the amount of money that will be paid to management and the Board if the sale goes through.
Management:
Perron: 5,000 shares $10.8 million
Godin: 0 shares $4.1 million
Quinlan: 0 shares $3.3 million
Board:
O'Brien: 12,000 shares $1.2 million
Other Board Member: 78,000 shares $5 million
Some people were upset with the payments made to Bob Q and Joe O when they left the company. I don't begrudge them what they received. They developed a very profitable mine. On the otherhand, I don't like the idea of paying these sums to the current management and Board who want to sell the company and get a fat payday after a year or two on the job.
They are concerned about the risk of being a single mine operation? Thanks, but I am a shareholder that has been living with that risk for years and don't mind living with it a few more years.