Company certainly aren't wasting time adding to the board ~...

Company certainly aren't wasting time adding to the board ~ again ......
A General Manager of "say what " ~
~ this is one of the most interesting appointments (although, interesting & surprising goes hand in hand with Equinox (MO))

Further to previous: and "dèjá vu" ......

A general manager of a title that I have never seen on the ASX ~ Geology, Heritage & Environment

As per post 57338814 @Eclipse+ and post 57236697@Peregrine ~ why has the Company rushed out prior to any infill drilling, viability studies, etc to appoint all these KMP's ?

Edit to previous post:

Not convinced the company needed to rush out an appoint a Chief Operations Officer General Manager of Geology, Heritage & Environment at this point, there is nothing to operate and the board is already getting over crowded, assume the "extra" staff costs by the latest appointments were covered in the prospectus? In my opinion NO!
No details of his employment contract?

Cash burn on Corporate concerning?

Corporate Administration budget for the 2 years, as per the Prospectus is $1,959,000 which covers general costs associated with the management and operation of the company business:
(i) administrations expenses
(ii) mangement salaries
(iii) director fees
(iv) rent and other associated costs

As per the prospectus, wages/salaries prior to the appointment of the COO General Manager are currently $627,600 p/a circa $905,000 p/a (this will be slightly less for this year) a "senior" position could be a cost of between $175k to $328k making for an anticipated salary/wages cost of circa $1,080,600k (using the lower end $175k of the pay scale)





(a) MD ~ Taylor, Capped at $330k pa ~ $12,000 per month plus $1,500 per day for days worked above the contracted 16 hours per week
(b) CFO ~ Pervez, $10,000 per month for provision of 16 hours per week
(c) Non Exec Chairman ~ Baxter, $70,000 per annum
(d) NED ~ Callaghan ~ $52,800 per annum
(e) NED ~ Habib ~ $52,800 per annum
(f) COO ~ Fyfe ~ between $155,000 - $220,000 per annum
(g) Company secretary ~ circa $60k
(h) General Manager of "as above" ~ Wallis ~ $175,000 per annum
(i) Rent ~ circa $70k min p/a for the office block (as per rental advertising at the address) plus a further $695 per calendar month if you want a car bay.

Wages/Salaries/(sundry)Administration = an estimated $1,080,600 per annum
Rent ~ as above = $70,000 per annum
Total of $1,150,600 per annum from a 2 year budget estimate (Prospectus) of $1,959,000 (circa $350k excess at this point)

cheers