The only reason the board is doing this is because they have all but killed GPN by giving away most of YRR to their mates. Had GPN retained 70% of YRR the fp sp would now be above 3c and the current options would have been in the money by the end of May bringing millions into GPN's coffers, thereby eliminating the need for option holders to pay to keep their options alive for another 3 years.
YRR was 48c and GPN 4.5c before the board gave away 130m shares in YRR to their mates, thus reducing GPN to 21% of YRR. YRR has gone from less than 20m tradeable shares to nearly 150m. Little wonder the guts has fallen out of the sp and having a large impact on GPN.
GPN
greater pacific gold limited
