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MAG SILVER CORP. T.MAG

Alternate Symbol(s):  MAG

MAG Silver Corp. (MAG: TSX / NYSE A) is a Canadian exploration and development company focused on becoming a top-tier primary silver mining company, by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Our principal focus and asset is the Juanicipio Property (44%), being developed in Joint Venture partnership with Fresnillo Plc (56%). Juanicipio is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp.


TSX:MAG - Post by User

Bullboard Posts
Post by okaynowon Apr 01, 2009 3:16pm
625 Views
Post# 15888850

MAGS Compensation Pig Trough

MAGS Compensation Pig TroughIt looks like ~44% of shareholders that voted are sending the NEOs a message that they are not happy with the amended stock option plan. 44% is a pretty significant number. Discussions with a few other shareholders of size indicates that they are disgusted with the the entire "over-compensation package" which included the revised option grab. I suggest that this out-of-touch group of NEOs and especially the compensation committee take notice that you have a fairly significant number of unhappy shareholders in terms of how deep the NEOs are sticking their entitlement snouts into our exploration company's financial resources. It doesn't appear to me that your "white-collar-executive" grab and resulting gluttony on non-risk enrichment/entitlement schemes will win you any additional support from shareholders that you may need support from in the near future. But then again, the parachutes that you have crafted minimizes the personal downsize for a management group that failed to review a simple but extremely important first resource estimate. 
Bullboard Posts