Ann: Hera - Nymagee Project Update , page-24

Still beating this dead horse? Ugh ...

I'll just repost qhat I said last time:

"Anyways, according to this http://www.ytcresources.com/public/documents/5/9/1216822.pdf
we are paying 175.ooo AU$ cahs to all our directors / quarter.

Don't think the (majority of the) non-executive directors (i.e. the guys from Yunnan Tin and Glencore) are getting any real payments / stock options, since they are on the board as representatives of their companies and get paid by them. Maybe a small allowance to cover costs for travelling etc.

Then consider that all outstanding options are priced at 35-45 cents (no. 7.7 of the quarterly cash report linked above).

Finally there are some performance rights (no 7.12), where we don't know any details, but I'd guess they also require a higher SP to be worth their while ...

Looks all pretty reasonable to me."

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"What does it say though when they have 3 representatives all of whom voted against the Glencore financing (which might I remind you was voted Deal of the Year in its category) and 98% of shareholding voted in favor of it?"

What this means is that once it was clear that a sufficient majority was voting for the Glencore deal, the Chinese decided to "save face" and not to oppose the deal any longer ...