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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough! -- Ignore unavailable to you. Want to Upgrade?

To: tom eland who wrote (4326)	9/4/1999 8:46:00 PM
From: average joe	Read Replies (1) \| Respond to of 5206

I wonder if Saskatchewan (Riders) will win today??? aj

To: tom eland who wrote (4326)	9/7/1999 9:54:00 PM
From: Lilian Debray	Read Replies (2) \| Respond to of 5206

I had a great weekend, Tom, thanks. As stated in the answer, the questions that were not answered have to do with the news to be released so there is no point in asking them. As the Fact Lady <g>, I found curious that M. Callahan - as new to his position as he is - would make such a vague or even incorrect statement on publicly available information and I wondered how that came up. He should bear in mind that: The Canada Business Corporations Act requires public companies to have no fewer than 3 directors, 2 of whom must be independent directors. The corporate statutes define an independent director as any director who is not employed by the corporation or one of its affiliates. As such, two of the directors are not entitled to salaries. However, they get options at a favorable rate. Under The Canada Business Corporation Act, professionals who serve on boards of directors of public companies are not required to provide professional advice. For example, the role of a lawyer on a board is to offer business advice and judgment, not to give legal advice. As President and inside director, Mr. Stone gets a salary: $69,750 in 1997 - he had resigned from the Board for part of that year; $60,000 in 1998. He also gets stock options: 663,250 in 1997; 370,000 in 1998. He is the only executive reported as getting a salary in 1998. (Statement of Executive Compensation? Information Circular, May 11th, 1999. p.4) For six months ended June 30th, 1999, management fees $42,000 -(Financial Statement, June 30th, 1999. [Does that mean that he got a raise?] No consulting fees or exploration expenses are reported for that same period. Inside directors are not required to provide their professional services to the Company free of charge. Furthermore, they should not have to risk personal bankruptcy, and thus making themselves unfit for any other directorship, by bearing the expenses of the Company year after year. KRT was pretty well stalled for one year in 1998, until Mr. Stone got compensation for the loan he had made in July 1997. kensington-resources.com Mr. Callahan will be paid the sum of CDN $2,500 per month and has been granted incentive stock options to purchase up to 75,000 common shares of the Company at an exercise price of $0.38 per share on or before July 6, 2004. kensington-resources.com So, which major Company member is unsalaried, does not get consulting fees, does not have a working budget and, according to the insider trading reports, did not even get any of the additional 1,399,336 shares reserved for issuance on July 5th, 1999 for purposes of the Company's Employee Stock Option Plan? How hard are they working on getting exploration work done and news releases out?