RE:My Comments
"If they are going to be granted new options, the stirke price is usually set significantly higher than the current share price as the holder tends to get an expiry date a number of years in the future before they hae to decide whether they want to exercise those options. "
Nope - don't think so. Not with this outfit. Unless your definition if significantly higher is significantly different from mine. I expect they would have zero problem issuing options around 55 cents right now. Those were at $1.10. MOZ started trading at 1.08 on first day of trading in Oct 2022. And obviously they had just peformed a huge SP killing financing at $1.10 in Sept 2022 so that's all kinda bogus
tC
The Board shall fix the option price per common share which shall not be less than the market price in Canadian dollars on the TSX of the common shares at the time of the granting of such option. Forthese purposes, "market price" of the common shares shall mean the closing market price on the TSX one trading day prior to the effective date on which the option is granted by the Board and if there is no sale on such trading day, then the last closing market price on the TSX prior to the effective date on which the option is granted
"The Compensation Committee" sounds like a cozy joke.
Furthermore, as noted in the below table, each of the Named Executive Officers received a special grant of stock options in October 2022. The stock option grants to the Named Executive Officers, which were approved by the Board upon the Compensation Committee’s recommendation, were part of a broader grant to employees designed to incentivise the recipients with well-priced options at the commencement of the construction of the Valentine Gold Project. The October 2022 stock option grants represented a final grant of stock options to employees before moving in 2023 to a regimen of LTIP comprised primarily of a mix of time-vesting RSUs and performance-based PSUs. The October 2022 LTIP grant was recommended by the Compensation Committee and approved by the Board in light of the many transformational milestones pertaining to the Valentine Gold Project that had been achieved in 2022 by the Corporation and in light of the significant work that lay ahead to progress the Project towards commercial production.