In choosing whether to invest in a company, you should always look at the quality of management, and how
money is being spent.
Andrew has been associated with a few issues in his past. Whether he was a victim of circumstances, or could have done better, I've stated my opinion, and you'll all have to go research and make up your own minds.
With regards to whether this is a lifestyle company or not, again research and make your own minds up. I'll throw in a few figures to help you:
Why the change? If you look at the annual remuneration report, I believe the $31,834 to McIlwain; $351,636 to Anderson; and $122,500 to Mcilwain; appear this year to have been replaced by $275,000 plus Super for McIlwain. On top of that maybe as has been mentioned we've let go a few people - I haven't really researched that.
Our exploration costs have now been reduced dramatically. In the September Quarter our Exploration costs of $187k were offset by $169k of costs recovered from the Maslins JV.
Make your mind up. Personally I don't see us as a lifestyle company, and expect our $2.93m in cash to tide us over for quite awhile.
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