That is obscene. And Weatherall received total remuneration of...

That is obscene.

And Weatherall received total remuneration of (USD)$624k for employment up to 31 July.

The gall is quite something. Thing is - I actually wouldn't begrudge the executive team their excessively high remuneration if the company was actually delivering a return for shareholders. But all we have had, for many years, is a big fat donut - while we watch the value of our capital whittle away to nothing...

Selby received a discretionary cash bonus last year of A$167,618 'following his appointment as Managing Director and in lieu of the withdrawn performance rights'. (p.48 of the annual report). Righto - so withdraw the performance rights - and take cash instead.

Selby was interviewed a few months ago saying 'our stock is as low as it's going to go'. OK so why not buy some shares, if we are so cheap? A few months later and we're down another 30-40%, from the previous all-time lows.

It's pretty clear that executives at LOM have an aversion with buying shares on market - and in itself, that says a lot.