My thoughts put simply.....
desperate to secure another 2 years worth of his high pay cheques without facing the prospect of having to cut his own pay if balance sheet was getting tight....and why would he care about dilution.....he owns bugger all shares.....
The board of NAE...... (at current SP)
Gary owns 445k shares-$3115
Alan Broome- 475k shares- $3325
Michael Admundson- 450k shares- $3150
Adriend Wing- 750k shares- $5250
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In fact why would any of the board care about dilution.....they have bugger all stock and don't participate in raises.....
They haven't bothered to buy a single share for over 4 years.....or participate in raises over recent times.....and they wonder why holders are no longer supporting
Ann: NAE Secures $1.6M to Develop Redmoor Tin & Tungsten Project, page-26
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