The problem is, I would not trust this BOD to take out the garbage - their previous attempts at expansion ended in losing hundreds of millions in the Murchinson fiasco .... and still, they live on !
Cool Hand, who's been 'god almighty' at SLR for 3 years is on a base salary of $592,200 + 12% super + STI 50% base salary + LTI 75% of base salary, the invisible chairman gets $175,842 base salary, while ordinary BOD members (who include the architects of the Murchison catastrophe) get a mere $105,692 for making up the numbers, while senior executives get base salaries ranging from $250k to $400k + (of course) STI and LTI .... "as per industry standard" ..... and the SP wallows at 3 year lows !!
RED's BOD, on the other hand, resuscitated the Siana project, and after cyclone Gina struck Phillipino mining, they aggressively and effectively found a new operation and got in up and running in a 12 month period.
If Siana gets the green flag, then RED's SP will soon exceed SLR's .... unless SLR finds strikes oil.
Its a question of management .... who can you trust?? SLR as it currently functions is a lifestyle company for senior executives and the BOD. Corporate action is the only way to liberate SLR's inherent value for shareholders to wrench effective ownership back from the executive and BOD cabal.
Add to My Watchlist
What is My Watchlist?