I made the comment last week that I appreciated that Copper Fox Management has not being issuing more stock options for themselves.

It interesting how just after that post, two companies that I have invested in have issued themselves stock options (see below). Isn't it enough that shareholders have to suffer through low share prices but now they have to add insult by granting themselves options at these low prices?

It does make me question this whole Junior resource industry - there doesn't seem to be many ways for retail investors to be profitable. If everything goes perfectly then we can make good money but I have come to realize over the past few years how difficult it is for us retail investors to make money in this.

We have to hope that the company finds a good resource, proves the resource through the PFS, and then hope that carries through to the BFS (I totally understand and agree with CanadaGrants beef in this regards. I had invested in something else).

On top of this we have to hope our metal prices stay strong. We have witness a significant drop in metal prices.

Hope that we don't get diluted through exploration out along the way (think of the CARMAX investors after Copper fox invested) because there isn't money.

Hope if they do have to build that they don't have to give large chunks of future income streams away through royalties and other financing arrangements. Or yet more financing arrangements.

Hope that some disaster doesn't happen either politically (confiscation or some local protest of some kind), economically (global crash so that financing isn't available), mining community (think Imperial Metals and their spill), and to the company itself (key personnel dying or some enviornmental or human diaster).

Hope that all of this be accomplish in a timely fashion. Somebody recently included a quote from the GoldCorp president (talking about Gold mines but I believe the same applies to other mines): "The time it takes to bring a deposit into production is also increasing significantly, slowing the rate at which production is replaced. Between 1985 and 1995, 27 mines with confirmed discovery dates began production an average of eight years from the time of discovery. The time from discovery to production increased to 11 years for 57 new mines between 1996 and 2005, and to 18 years for 111 new mines between 2006 and 2013. The length of time from discovery to production is expected to continue trending higher: 63 projects now in the pipeline and scheduled to begin production between 2014 and 2019 are expected to take a weighted-average 19.5 years from the date of discovery to first production. "

http://www.mining.com/goldcorp-we-have-hit-peak-gold-48704/

Then on top of this, management then enriches themselves through stock options.

I do like Copper Fox because many of these points are not an issue for us. However, we have certainly been hit with many of the problems listed. And we do have the additional challenge that because Teck is the operator, we don't have any idea on how things are gonig with the optimizations.

The world is running of cheap and easy to get to metals. I do believe, at some point things will turn around in a BIG way. The world at that point will blame the miners because they haven't "managed" their businesses well. The world will be partially correct but they have NO idea of the complications/challenges along the way. I hope there will be something left for us.

Kaminak Grants Stock Options