Options Granted to Renaud Hinse in 2011 OK, I see that because those are options it is not money that was paid out to Mr. Hinse. His salary was about $280,000 in 2011 (July 1, 2010 to June 30, 2011). The vast majority of these options are priced at 12 cents per share. Once he exercises the 5 million options at 12 cents per share, $600,000 will come into the company. Those options expire on June 8th, 2016, by the way.
He currently has over 11 million shares in the company. Should he exercise all the options he currently has, he will have over 17 million shares personally. His son will have about 10% of that. Who knows what Judith Hinse has since she is no longer a director of the company. All together the Hinse family will probably own about 10% of the company. But should stock-based financing be required to fund the Elder project to commercial production (the most likely scenario), the Hinses will end up owning less than 10% of the company. maybe 5 to 7% would be my guess. I don't think anyone will be complaining about his 5 million or so granted options in 2011 should the share price go much higher if we near production.
Not counting these options as salary, since he received no money from the company, that puts administrative expenses over the past three years at least than 25% of overall expenses, which leaves over 75% of what has been spent going towards operational expenses (drilling and mine development). This is well within the range suggested by Pinacle Digest in that recent report about juniour miners mentioned by one of the posters here. We are well within the industry standard.
I'm glad that I checked this all out.
Let's hope that the price of gold keeps going up, and that investor sentiment improves, so financing becomes available to make this dream a reality sooner than later.
Cheers to all longs,
GM