Ann: John Dorward Joins Vital Metals as Managing Director, page-18

With salary, bonuses and options he's going to make about $600,000 a year out of this Penny Dreadful (PD), so who wouldn't take the job?

Most people don't earn that annual income in 5 or 6 years, for controlling much bigger staff numbers, and having much greater responsibilities, and for having been with their company for far longer (so they know the business).

Nobody should come into a position on the top salary scale.

Just to put it into perspective for everyone, he's earning approximately the same salary as the Canadian Prime Minister. What a joke.

The write up, as usual for these penny dreadfuls, was full of fluff, it's just another farce.

And shareholders only have the top 150 metres of a deposit, and NOTHING below it, and even then, they still have to pay a Net Smelter Royalty on the top 150 metres - what a joke.

So effectively then, VML has very little, and only a certain percentage to some top surface dirt at Nechalacho.

So what is this guy going to do, go out and buy another rare earths deposit - with what?

Give us a break, have a look at the 2.7 cent share price, it says it all !!!

How can someone come into a 2.7 cent company and earn up to $600,000 a year - like I said, it's a farce, and it's tantamount to legal theft.

The company is in a classic Catch-22 problem, and it's not going to buy it's way out of all the problems, so instead, it looks like it's decided to throw more lifestyle money at a few friends to try and run things, which will probably buy them a new ocean going launch and some five star holidays.

When the share price is 8 cents, and they have high paying off-takes, and they have consolidated (1 for 10 for an 80c share price equivalent), and cash is rolling in, and they've restructured, then come back and tell me I'm wrong, because at the moment I'm not.

Gw