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78.0¢ avz minerals limited

Ann: AGM Results - Vote of Confidence for AVZ Board, page-111

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Roon-Aus

1,007 Posts.

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25/11/23

07:50

Post #: 71100877
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Originally posted by klu: ↑

I am surprised to see that NF received $1m cash bonus, while the company has been suspended for two years and has to rely on a 'Binding MoU' to survive for another year or so. According to the chairman, the bonus was given because he traveled to (or stayed in) DRC for 246 days in the past year. That is equivalent to the whole year working days - may need to check if it is true. What he achieved in the 246 days? What I can see is that the number of arbitration cases was increased from 1 to 6, and that the words 'confident to get Zijin's 15%' in the early announcement were changed to 'negotiate the ownership of the 15% with Datomir' in a later announcement without the 'C' word. Seems approaching the end of a dead road - no achievements in 700 days, never mind the 246 days (apart from the $1m bonus).

AVZ is a big holding in my portfolio, hope we can get a good result, but I cannot pretend to be positive atm. I did not vote, no labels please.

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His bonus was 240k not 1m. Still bad optics though.

AVZ Price at posting: 78.0¢ Sentiment: Hold Disclosure: Held
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