'Aura Energy’s directors have always maintained a strong focus on keeping costs at as low a level as possible.....Also as part of these reductions the salary of the CEO was reduced to $280,000 per annum from the end of October.'
This was not a voluntary action by Peter and the BoD it was a forced situation due to SH's displeasure and action, namely in the shape of John Bennet and later, ASEAN. This action by Peter and the BoD was way too late. Unlike other uranium coy's, Aura's SP has tumbled from one missed deadline to another missed deadline and all the time Peter was lifting his very heavy salary for very poor performance - other uranium companies have suffered more because of market suppression, they will come back as the market momentum changes, I'm afraid I'm not so sure that will be the case with Aura with its current management team and an element of current BoD's.
IMO change is still needed but I agree with Trade138 that ASEAN need to respond and explain.
AEE Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
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