RE: Why the PPFrom what I read, the 10 million shares is for a PP and there is also 6 million shares going to the new management.
If you are right though, and management is buying 10 million shares, then I think they SHOULD buy them at whatever the market price is, we all had to and look what has happened!!
I'm so sick of this company, I just hope this new team can get some NEW drill results out that make the SP jump, because then I jump off and never look back.
I am cynical and I don't think the PP was necessary (nor did they say what the $3 million was going towards) and I don't think these new fellas have EARNED the 6 million shares they are getting YET. If I was in charge, I would have made benchmarks. Hit a benchmark, EARN some cheaper shares. But giving them an opportunity to buy 6 million shares at a set price for the next 4 years doesn't sit well with me, and either does a $3 million PP that dilutes the company by another 10 million shares!!!
What is the $3 million being used for??? You have well over $10 on hand already....So far that hasn't done anything good for us either....What's another $3 million going to do? Maybe import gold to our property???
This is just another example of big-wigs helping themselves to the treasury imo and it disgusts me.
I hope like hell these new fellas do something different, but I have my serious doubts BECAUSE of the new PP offering. If they had of just replaced BoD's, then fine, but the $3 mil in PP (10 million more shares) will not be good.
What happens the day they become free trading? 10 million shares?!?!
Come on, this is ridiculous!!