Ann: Notice of Annual General Meeting/Proxy Form, page-12

So TT, are you saying that you're happy with a low hurdle for the options, which amounts to 7% of the total shares and would be a substantial increase in the number of shares on issue, meaning a dilution of other shareholders? What about SM's proud boast that "the share register is as tight as a drum" ??
The size of this proposed option package is a defacto capital raising for performance yet to happen. SMTM.
A long list of possibilities is not a proper scorecard! SMTM !
Unless Cannon UG comes on stream and generates significant profits, instead of more dividends, there'll be more capital raisings. The Mitchell doctrine of self-funded growth depends on income generating assets, not endless recitations of the mantra that 'there's gold in them there SK hills'. Hot air can only keep balloons up for a limited time! SMTM ! Weather MB is a nice bloke is irrelevant - ditto rest of board. Shareholders have received nothing for 5 years except capital destruction and a token dividend, while employees and staff have received a steady income. Even your most optimistic SAU-phile thinks that it's going to take another 5 years before the big time. If by some miracle a dramatic deal comes out of the ether, and the board was responsible, then let's give them a performance bonus. But should they get credit for a lottery win ?
Directors are trying to set themselves up big time - it's up to the real owners to stop them - vote against this package and the reappointment of MB. Also, Directors should not be able to vote for these motions - otherwise its the insiders ganging up on the outsiders once again.
PS I wonder how long you've been a shareholder and what's your entry price ?
Seems like 50c will be a happy exit point for you? After 5 long years, I feel the same. SMTM.