Sure, hundreds of WMC Resources staff will lose their jobs after BHP Billiton takes over, but there will also be plenty of paper profits to be divied up amongst the staff.

Just when you thought options were going out of fashion, WMC issued a hefty 15 million last year. Below is the list of all options issued up until the demerger with Alumina in 2002.

1997 $2.27 451,300
1997 $2.50 250,000
1998 $2.26 963,120
1998 $2.49 375,000
1999 $3.90 3,868,000
2000 $3.48 6,007,050
2001 $4.33 10,060,500
2002 $4.33 600,000

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Peter Fray
Peter Fray
Editor-in-chief of Crikey
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