RE: scuderia I´m with uOk... you have some valid questions. I reread my post and I guess my point wasn't clear the way it was written.
Scuderia430
I was trying to explain that the 60% we gave away (provided OSK spends roughly 8 million over 4 years) is the equivilant to an additional 80 million shares of financing TODAY. The question really becomes, do you believe it was worth giving away the 60% of goldboro or would you have rather kept the 60% and saw management potentially ask for $11 million instead of the 3 or so they just recieved. An additional 80 million (for a total of 110 million shares) is alot...but we get to keep ALL of goldboro and do this thing right. All management has to do is manage?... OHHH, BURNNN.
Now of course this wouldnt play out like that. Ox could have said no to the OSK deal and would use the 3 million they just got to put down the drills and redrill all the zero holes. Once we have real proof (in the form of a reliable resource estimate) of what all the posters here already know, the share price will naturally increase. At that time if additional financing is required (maybe another year down the road) if Ox needs more money then it will take alot less then another 80 million shares of dilution (plus all the accompaning warrents) to get 8 million in cash. At that time, should OX management come to the table asking for an amendment to their stock options plan then I would support such a move.
Your also right about the lack of options being used last year. If they managed properly the share price goes up and they could have used them. That doesn't matter to me though. No one asks for an increase in options unless they intend to use them. Oh and the big difference between you and management as far as options/ shares at the same price is you have to put your hard earned money where your mouth is. Management doesn't. It costs them nothing to hold these things. I'd want an extra 4.1 million options too since I know the share price is going to skyrocket within a year once the picture starts to clear up abit. Now I ask you,... does OX management deserve it? If they had their money on the table today and held it in there as long as you plan to do scuderia430, then your equals in this thing. Thats not the way it works though.
Lastly... (god I know this is long again), OSK comes down. OX management has decided to accept the deal (accept defeat?) and give away the 60% of goldboro for eight million over four years AND access to a management team who knows what they're doing! Fine, Lets do this thing. I know its not what I woulda done, but I can accept the deal. Others here seem to like it. Ok. Heres where you lose me though. What management should have said was
*** WE ARE GIVING 60% OF GOLDBORO TO OSK for eight million worth of drilling and work and we are going to allow OSK to takeover the day to day operations of this process, but we'll sit in on the meetings so we kinda know whats going on, OH and by the way, we the management would really appreciate a bump in options, I mean we don't want to put our own money in this thing untill it really starts paying off, but we would really love the option to buy at today's prices alittle down the road. I mean I know were not really managing anything anymore but I still think we deserve alittle something for putting all his together. Thanks guys.