Fair call Stagman. This does demonstrate how ineffective such rights are at retaining / motivating staff. The saving grace in this case is that the options carry a price 30% above the 5-day average immediately preceding the exercise date. Compare that to the IFE "performance rights" (i.e. FREE) that Finch and McKay gave themselves earlier this year. What is of more concern to me is that both TRF and IFE are badly in need of an independent Board of Directors. Sadleir's departure will not help that situation (although I suspect he was unlikely to stand up to Finch anyway). I am not in favour of throwing money at administrators, but sooner or later (sooner in IFE's case) there will need to be a shift from a board controlled by geologists to one which can properly deal with licence applications (and the associated bureaucracy/politics), financing, realistic timeframes and PR ........ not to mention putting the shareholders' interests first. In spite of my continuing criticism of management, I believe this company is potentially a goldmine (literally !!!!)
TRF Price at posting:
29.5¢ Sentiment: ST Buy Disclosure: Held
