Stock option Plan / managementThe next AGM should take place around mid September 2015.
At that time (that's my understanding), the shareholders will approve the Stock option Plan resolution granting the BOD powers to attribute options (up to 10% of the shares float at that time) to various persons. The exercise price of these options where described as follows in the last notice of annual meeting (in 2014): "the price at which the common shares covered by an option may be purchased pursuant to the Stock Option Plan will not be lower than the value of the common shares as recorded in the last sale of a board lot on the TSX Venture Exchange on the day preceding the allocation of the option;"
My understanding is that the lower the share price is, the lower the price of the options may be. GMA intends to publish the resource update in June. Then comes the summer months of July and August, which is, apparently not good for NR. September will be the month of the AGM.
Granting options to the management (up to 10% of the float) may mean important dilution especially at $0.175. But if the options are granted to the management after the PEA, I wonder what the share price will be after the PEA? I really wonder when the PEA will be out...
Cheers,
Moulouk