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Gold/Mining/Energy : Int'l Pursuit (T.IPJ) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Everest who wrote (594)	2/28/1998 2:58:00 PM
From: Traveling Man	Read Replies (1) \| Respond to of 835

Ron and all, I received my circular and will vote against repricing options. The officers are being paid in the $200K range. I want them to make a windfall on these options,but at the price originally intended. The only reason I have voted for this with another co. I own is their officers receive NO compensation except the options they successfully exercise.Concerning the "rights" plan,I don't like it either. The statement early on that this will not be immediately dilutive is meaningless. It WILL be VERY dilutive if the rights are seperated by an action of an undesirable takeover regime. I think these plans are to prevent a set of officers from losing control of what they consider their company. It is not their company, rather it is owned by the shareholders when they went public on our dime. These plans are in the officers interests of job security and control, not in ours. TM