San Gold Corporation

Nice the way the system "rewards" the insiders, they get to pick the absolute bottom ($2.52 after the fact) for future performance or even poor performance as long as the future price before 5 year expiry is higher than that $2.52 low. No money at risk ever. Wish they would just get a bonus like many Managers in business, but only if they achieve multiple goals.

Maximum 10% options per year means they could double the float in less than 8 years !!! The only good news is historically they have optioned less than 10% of the float, but they always get the 10% approved at the AGM because thats the norm. Sure wish when I was buying more stock at $3.40 last year (with actual hard cash up front) that I was guaranteed that would be the lowest price. The decline and paper loss down to $2.40's was a stressfull time.

The option strike price should really be based on the average share price over the previous 3 to 6 months or some other more equitable method. The current system of reward is at the general shareholders expense. Of course, the Board of Directors approve the compensation plans, because they all benifit from it.........good deal

IMHO, the strike price should have been at $4.00, the same price as the $80M PP

Jul 13/11	Jul 12/11	Berzins, Ian Martin	Direct Ownership	Options	50 - Grant of options	250,000	$2.520
Jul 13/11	Jul 11/11	Wynne, Hugh	Direct Ownership	Options	50 - Grant of options	250,000	$2.520
Jul 13/11	Jul 12/11	Ginn, Dale	Direct Ownership	Options	50 - Grant of options	250,000	$2.520
Jul 13/11	Jul 12/11	Pirie, George E.	Direct Ownership	Options	50 - Grant of options	250,000	$2.520
Jul 12/11	Jul 12/11	Anderson, Michael	Direct Ownership	Options	50 - Grant of options	300,000	$3.280
Jul 12/11	Jul 04/11	Anderson, Michael	Direct Ownership	Options	00 - Opening Balance-Initial SEDI Report
Jul 12/11	Jul 12/11	Kristjansson, Gestur	Direct Ownership	Options	50 - Grant of options	250,000	$2.520
Jul 06/11	Jul 04/11	Anderson, Michael	Direct Ownership	Common Shares	00 - Opening Balance-Initial SEDI Report
Jul 04/11	Jul 04/11	Link, Jeremy Gordon	Indirect Ownership	Common Shares	00 - Opening Balance-Initial SEDI Report
Jul 04/11	Jul 04/11	Link, Jeremy Gordon	Direct Ownership	Options	50 - Grant of options	400,000