Robert, many jr. mining companies offer options to employees to offset their small salaries. As you stated above, exploration companies have no revenue and thus use options to attract professionals to work for them. At HAW, I know for a fact that the IR guy doesn't even receive a salary, just options. Anyways, I don't have a problem with options, I only have a problem when they are repriced. If it comes down to losing professionals, then we are at the mercy of mgmt. to decide about repricing. I still strongly feel that if the co. believes it can prove up a 7mil deposit by christmas, why the hell would they need to reprice the options. By repricing the options, it sends a message to the market that maybe it will take a little longer to prove the deposit, or maybe we are not so confident in the property proving up an economic deposit. Regardless, it will not inspire confidence in the co., shareprice will continue to erode as investors become impatient and bail, and C. will be loading up on shares @.40 as a small shakeout occurs. Again, this is all conjecture and I hope I am wrong. But when I start to see C. playing games at the end of the day with the price, alarms go off. MHO only. Just to clarify one point, you mentioned it was narrow of me not to expect the shareprice to be able to push past old option prices. That wasn't what I meant, only that it could be a little more difficult to see those prices with so many more cheaper shares outstanding.
Regards Hugh |
