trading, page-19

just remember we get diluted with further issues not the directors. You can assume all sorts of different scenarios of how we get to $2 and what it will look like in terms of shares issued. But right now this performance scheme is worth over $3m in option premium ( in the document) against a market cap of $13m. It may be ok to you but how will institutions look at it ? if you want to get to $2 you need institutional support & this incentive scheme could be their poison pill. This will stand out like dogs balls to them because of its size and scale.

I think these guys have done a great job to this point and I am not against performance schemes. I have supported Torian in every post I have ever made - check out my history. But this resolution shouldn't have been tied to the Cascade transaction. It needs metrics so that shareholders can get a better understanding and should be introduced at a more appropriate time

Most mining companies create schemes based on gold production, performance v peers etc - not solely the share price. The share price could go to 50 cents because of the gold price - then we see shares convert into $1m each worth of stock for directors. And then if gold price falls again ?? and takes with it the share price - remember these are 5 year performance options with no claw backs. These options could go in and out of the money all the time given how illiquid the stock is - hardly a benchmark for outperformance .

Of course we'll all be happy should the share price get to $2 - but this is a corporate governance issue that could work against the company in the future. The resolution should be withdrawn & restructured with transparent metrics beyond the share price.