just looked again at the June 2013 Notice of Annual and Special meeting circular for both SGR and the partly owned, controlled exploration company SGx Resources dated may 23, 2013.

For 2012 while George was President and CEO, Dale's title was Executive Vice-Chairman of SGR and his 2012 salary was $350,000 ( $350k in 2011)

For 2012 Dale's title at SGX Resources was President and CEO and his compensation paid to his "consulting business" was $300,000 ( $71k in 2011)

Note 5 on page 5 states "Effective July 1, 2012, the Company (SGX) entered into a Contractor Agreement with RDGGSI pursuant to which the services of Dale Ginn as President and CEO are provided to the Company. Pursuant to this agreement, RDGGSI receives annual base compensation of $200,000 and is eligible for a bonus as determined by the Board in its sole discretion. The Contractor Agreement also sets forth the various duties of Mr Ginn as President and CEO of the Company". How was the $300k calculated for 2012 ? when it clearly states 200k/yr and why was $71k retroactive back to 2011 predated this agreement ? Should some of this be repaid back to SGX ?

on page 7 "If a Change of Control took place as at December 31, 2012 and the Contractor Agreements were terminated the estimated payments to the Contractors would be approximately $420,000 for RDGGSI and $420,398 for MMCS, including all applicable taxes." (note, MMCS is for services of Gary McDonald as CFO) ....Looks like another Two year golden parachute clause

The 2012 Compensation Committee for SGR was made up of Hugh Wynn, Dale Ginn, Michael Power and Steve Harapiak.

From the SGX documents it's not stated who's on the Compensation Committee for SGX however one could guess from the list of Directors of Hugh Wynne, Ben Hubert, Michael Power, George Pirie, William Ferreira and Sethu Raman. My best guess of the Comp. Committee would include Hugh, Michael and Ben?

So for 2012 Dale pulls a full time salary from SGR, while a new President is in place and at the same time also pulls significant consulting fees from the related exploration Company. The Compensation committees of both companies must have approved this and either believe he working 70-80 hours a week or just creating so much value for the shareholders or ?

I still own a good size position in SGX because it has good exploration upside in Timmins, Ontario and doesn't have a big cash burn rate. As a SGX shareholder (and former long time shareholder of SGR) I'm concerned about shareholder value, fairness and don't believe in entitlements, maybe I'm too ethical.

George got his entitlements with two years severance and "undeserved" bonus totaling about $2,000,000.....Who hired him and struck that compensation deal (I heard it was DG) and the Compensation Committee approved it, still burns me.

They should have kept these Companies private, then they could do and pay each other what ever the hell they want and it would be no ones business but thereown, but since they went public and are burning through shareholders money they need to be fair and strive to create shareholder value. (Not just a short lived run up in Market Cap because that just "justifies" higher salaries while the continuous dilution hurts the shareholders)

Time for the Directors and Compenstion Committees of all Companies to be more responsible to the Shareholders !!!

The only thing worse here, would be a dual class structure with the general shareholders having even a lesser voice.

Wonder what the Compensation for 2013 will come in as.

Another thing don't even think about reducing the strike price on Management and Directors options, it was stated at the last AGM the Company would never do that.

Time to keep everyone honest !

Wonder what the expense reports look like, hope better than Alberta's Alison Redford, or the Senators, Oh I'm sure they're reasonable and consistant with the industry.