Replies to post #12716 on Sierra Resource Group Inc. (fka SIRG)

[SaltyMutt]

I don't think the mining, processing, and selling are that far away. Sure, there are some hurdles left to jump but they are not that high and everything is going well thus far. This is turning into a very exciting year for SIRG shareholders.

[abc1938]

lets not forget the .05 stock option plan.

I am sure Rod wants to be able to achieve a higher pps than .05.
that means it must go higher than .05 to have any monetary value.
so what will be the value of your holdings calculated at .05 pps.
My WAG is it will get there plus.


Effective January 1, 2012 the Company agreed to an Employment agreement with J. Rod Martin the Company’s CEO. The agreement provides for an annual salary of $150,000 until the Company begins production at the Chloride Copper Mine at which time the rate shall increase to $250,000 per year. The agreement also includes a bonus to be determined in good faith by the Board of Directors at the end of each fiscal year with a target of $350,000 adjusted in accordance with performance. Included in the agreement, Mr. Martin shall also receive a stock bonus representing up to an additional 40 million option shares exercisable at $0.05 per share earned in the following manner; 25% upon opening the Chloride copper plant, 25% when the company begins production at the Chloride Copper Plant, 25% upon the Company’s generation of a cumulative $5 million in revenue, and 25% upon the Company’s generation of a cumulative $10 million in revenue. At the time of the execution of this agreement, the bonus stock option price significantly exceeded the current market price thus they currently hold no value. The employment agreement also calls for a standard benefits package.