Executive Directors Remuneration

nasabear - you continue to argue that the remuneration received by our executive direstors represents true value, and is comparable to other spec companies.. To be fair, and factual, why not take a look at a few similar ASX listed companies, and see if the your comments are warranted.

So I chose four companies still in development phase, each involved with a mineral/s that holds promise in the tech/energy field. Each is on my watchlist, and I have followed them for a while. Enough to get a feel for the performance of their leadership, in each case an executive director. Before checking out the latest annual report for each company, I was not aware of their remuneration.

The companies I selected were: (each has one executive director)
AVL - Australian Vanadium Ltd, exploring and developing a vanadium deposit in WA, and also having an Australian distributorship for large scale battery storage (VSun)
CXO - Core Exploration - explorer and early stage developer of a lithium deposit close to port of Darwin. Chinese customer on board to assist mining development.
AUZ - Australian Mines - Explorer and early stage developer of large Queensland cobalt deposit. Development JV progressing.
CLQ - CleanTeq - Explorer and developer of scandium/cobalt/nickel deposit in NSW, plus developer of technology to clean up polluted environments (e.g in China) plus association with Monash Uni and Ionic Industries in developing graphene based filtration to purify water.

Let's compare the market cap of each company, the qualifications of the exec director(s), and their base remuneration.

AVL - MC $64mill. MD and exec director Vincent Algar BSc (Hons) Geology, MAusMM, Base Sal $225,000 (+ perf. rights baased on set milestones)

CXO - MC $30mill. MD and exec director Stephen Biggins MBA, BSc (Hons) Geology, MAusMM. Total Contractual payment $304,000

AUZ - MC $119mill. Exec director Benjamin Bell MMET, MBA, BSc (hons) . $200,000 base salary ( + $50,000 bonus this year for reaching milestone)

CLQ - MC $354mill. MD and CEO, Exec director, Sam Riggall LLB(Hons), B.Com, MBA. $300,000. (Performance shares have been issued as milestones met)

FGR - MC 62mill. Two Exec directors; MD Craig McGuckin, Diploma mining Surveying, Diploma Surface Mining, $412,270, CFO and C.Sec & Exec director Peter Youd, B.Bus (Accounting) AICA, $360,818. Each in addition has a $12,000 vehicle expenses. (total to Exec directors base combined $800,000 +)

Now, you might say, there are other benefits to most of those, - preference shares, options, bonuses. You would be right, Not every year, but all have benefitted in various ways, most by meeting strictly set performance targets or milestones related to physical parameters or share price achieved.

Craig and Peter have also been granted 5 million options each, just last November at the 2017 AGM (a bit contentious, and although regular shareholders did not support the free options for the exec directors, the vote for each was passed with the support from the other directors).

And they have done very well out of that. Their combined 10 million free options granted now have a current market value of $700,000.

And with the release of the Annual report, we find they have an additional bonus of $488,000 between them.

So the base remuneration for the two FGR exec. directors is more than the base remuneration for the exec directors of CLQ, AUZ and AVL combined. Those three companies have a combined MC of $565 million !.

And I think you could argue that Craig and Peter have done way better than any of the others in additional benefits as well.

So, Yowie, and other grumpy shareholders., I think you have a fair point.​