RXL rox resources limited

1.75%

29.0¢

Ann: Commencement of Drilling at the Youanmi Gold Project, page-36

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MrAu

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26/01/23

23:05

Post #: 65898898
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Originally posted by smartdude: ↑

The “negative” comments have largely been about management remuneration and not about project viability or the professional capabilities of the CEO.

The 12 month share price high specified in the General Meeting Document was $0.57. Is it appropriate that the share price hurdles attached to the performance rights should be $0.25, $0.35 and $0.40 or at a higher level? The share price moving up to hurdle levels is simply making up lost value rather than signifying superior historical performance.

RR has pumped up his BDC achievements in a slightly dodgy way. Was he doing that to promote OUR company or to promote HIS interests?

Is RR underpaid? Is $400k pa inadequate or should he receive a $1.8m bonus for simply getting the share price back to the level that it was at 12 months ago? Given that, realistically, he should be able to achieve all the proposed performance outcomes in under 2 years his annual remuneration will be the equivalent of $1.3m pa including bonus shares issued at a $0.40 share price. As a new kid on the block I support some incentives being given to RR, but if the share price hurdles are merely making up some of the lost ground, a $1.8m benefit seems a trifle excessive.

Given that the other Directors have presided over a long period of share price decline, which has included options expiring and lapsing, is it appropriate for those Directors to have new incentives issued based on a depressed share price? Most here appear to agree not, however, has anyone considered that RR was part of the Directors team that tabulated those performance rights. If he supports those performance rights is he actually supporting the shareholders of the company?

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RR salary inc Super is $420,000 not $400,000. On that salary you'd expect him to complete the feasibility studies without getting million dollar extra rewards. The bonuses should be for extraordinary achievements e.g complete the DFS and triple the SP this year

RXL Price at posting: 19.5¢ Sentiment: Buy Disclosure: Held
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Ann: Commencement of Drilling at the Youanmi Gold Project, page-36

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Ann: Commencement of Drilling at the Youanmi Gold Project, page-36

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