I like this comment from the news release:
“Martin Rowley, Chairman of Galaxy commented, “I would like to personally thank Florencia for accepting my invitation to join the Galaxy Board. Her decision to become a director of Galaxy is a strong endorsement of Galaxy’s business objectives and culture.
Her strong track record and experience advising both domestic and international companies in Argentina and the respect she has at these levels will no doubt be invaluable to Galaxy as we progress the Sal De Vida project. The Galaxy Board now comprises of a mix of highly skilled professionals with experience in a diverse range of disciplines, that, on behalf of its shareholders, will continue to provide strong leadership as the Company progresses its strategy as a leading company in the lithium sector.”
This is a good endorsement from Martin Rowley, as reflected in the comment above, that a woman of Florencia’s high calibre, would accept the invitation, to bcome a member of the Galaxy Board. Even though the last female director appointment didn’t work out so well, it will be interesting to see what this new director can help the company achieve, and I would imagine that she would be well aware of, and avoid, any conflicts of interest.
I’d rather see our executives being well paid, and given good incentives to do their jobs, to the highest possible standards, to unlock the growth potential and value in the remaining assets, and ultimately deliver higher capital returns for shareholders.
The question of dividends is often a tricky one, as dividends do tend to attract investor interest, however, at this stage of the game, the money is better spent on growing the Company, and can always be delivered to shareholders at a later stage, when all 3 assets are producing, and making money.
When Galaxy is producing at optimal capacity, and becoming a highly profitable operation in the years to come, then surely the balance sheet will be able to cover the costs of shareholder dividends, incentive options and remunerations, to the executive and employees.
There are many events that shape market forces, and the benefits, or effects, of any management decisions, are too early to call yet. GL
