RE:RE:RE:RE:RE:RE:RE:RE:RE:Fast moving forwardvwig,
I am only in SA, so I don't know what is happening in other JP ventures.
On the matter of "disinterested shareholders" meaning shareholders like you and me, you have to give the Board of Directors credit that they put it to a vote to get disinterested shareholder approval. They did not have to do this.
On April 1, 2014, the Company’s Board of Directors agreed to re-price 7,935,000 incentive stock options issued to certain directors, officers, employees and consultants of the Company. During the three month period ended September 30, 2014, 3,050,000 of these stock options expired unexercised resulting in a remaining balance of 4,885,000 options to be re-priced. The options were originally granted with exercise prices ranging from $0.25 to $2.00, and the Company will reduce the exercise price to $0.10. Except for the amendment of the exercise price, all original terms of the options will remain in effect. The Company has received approval from the TSX Venture Exchange for the re-pricing. The Company intends to obtain disinterested shareholder approval for the amendment to the exercise price of the stock options granted to insiders at the Company’s 2014 annual general meeting. Insiders may not exercise options at the new price until such approval is obtained. As at September 30, 2014, these options had not yet been re-priced.
At the moment I am keeping my fingers crossed that the new partners (Hamish Campbell & C0) will deliver on getting the exploration permit converted to a 20 year exploitation permit.
Time will tell if and when we will see cashflow from Indonesian operations.
cheers