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Strategies & Market Trends : Ride the Tiger with CD
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To: DetectiveT who wrote (131478)9/23/2008 1:28:29 PM
From: Claude Cormier  Read Replies (3) of 313010
 
DT,

I am not sure what to think.

Clearly it is annoying to see options being repriced lower.

However, this business like all others must operate with people. The salaries paid are usually very small and most often only a fraction of what the option compensation package is. The guys must often have other consulting jobs with majors to make it through.

I know personally a director of a mining company that has been sitting with options for years without a salary. I am sure there are many like that.

If not through correctly priced options and decent salaries, how do you create the incentive for their employees to keep working there? Already the business is speculative and there is no guarantee that the stock price will be worth enough for the options to be exercised at a profit.

So what is the alternative?

As for SCM being pump and dump artists, you may be right. But we cannot say we have seen a lot of promo and news from them to make them look so. They have been rather quiet.

For sure the resource is disappointing. I was hoping for above to 1 million ounces from previous drilling. However, Mr. Olian has done it right with previous companies. SCM has recently attracted financing at prices higher than market. It has a good business plan operating its own drills. So I will give him the benefit of the doubt and wait for the initial drill results on the high grade Northwest property to be out before changing my mind about SCM's potential.
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