tanquille,

you wrote:

Voluntary pay reductions is one way to spin this "news release".

Imo they are also legally required to put that NR out because they are diluting shareholders.

Another way to look at this is that shareholders not the company are paying for executives. Very likely because they are running low on cash.

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We are talking about 416,253 common shares to senior management at an exercise price of $0.31 per common share. That amounts to a mere $129,038

Noront also raised millions not long ago and hasn't even started summer drilling.

$129,038 is not a big amount of voluntary savings.