A lot has been posted condemning the salaries of VRCs BODs over...

A lot has been posted condemning the salaries of VRCs BODs over the last few weeks, and by one person in particular over the last 12 months!

And they do seem to well paid, but is the criticism totally justified?

Comparing like for like, VRC's closest rival is WKT, which was granted its Mining Licence a few weeks ago. It announced a capital raising straight afterwards, which was not well received by its shareholders!

Looking at the salaries of WKT's BODs, they are very similar to those paid by VRC. WKT paid $1.208m to its directors over the 12 months to June 30th 2018, but this was to only 4 directors!

VRC paid $1.169m to its directors to June 30th, but this was for 7 directors. This amount is also a bit less than was paid in 2017. So in fact WKT pays its directors more per person that VRC!

Having received their Mining Licences today, VRC is now focused on raising the $40m funding for Stage 1 of mining. If this goes well, then VRC could find itself in front of WKT in terms of setting up a Graphite mine, as WKT needs $30m for its mine development.

Could it be that VRC's funding strategy is superior to that of WKT's? Could it be that VRC's funding strategy is quicker and easier to organise than WKT's?

In summary, yes, VRC's directors are well paid, but they are paid less per person than WKT's directors. VRC's total salary payments of $1.169m for 7 people is less than WKT's $1.208m for 4 people! Whether investors believe that the directors salaries for VRC are too high or not, that is an individual decision. Going by WKT's salaries, perhaps they are not too high, perhaps they are par for the market?  Regardless, there is little we can do about it. Hopefully successful outcomes for VRC will justify their payments!

And hopefully, more positive news will follow soon from VRC about their funding being successful!! The momentum is building!


VRC's Directors Salaries:




WKT's Directors Salaries:

DYOR. IMHO. (I am not stating in any way that either VRC or WKT are a superior spec stock to the other.)