Hi all,
Still no resolution re: the below tranche proposals forwarded to AVZ's remuneration committee some weeks ago unfortunately.
View attachment 3816089
My thoughts are if the directors/remuneration committee are seeking an additional
31.75m Performance Rights to be approved later today, then IMO they should at least be prepared to adopt something similar to the above, as fair compensation / reasonable trade-off for shareholders.
As it stands, the BOD are about to receive a whopping
A$19 million in Performance Rights for this financial year alone. (31.75m x ~$0.60). The SP hit $2B Market Cap (fully diluted) yesterday & today, so one would think that Tranche 5 (>$2B M/Cap over 20 consecutive trading days) is a walk in the park given the announcements that are expected in the days ahead.
View attachment 3816152
Now compare this to Orocobre's Directors who are seeking a
'fat fee increase' of
~A$4.5m, as described in the article below.
Orocobre's board to get fat fee increase as it rides lithium wave (inqld.com.au)
For what its worth, Orocobre is a $6 billion Lithium producer, generating substantial revenue and profit for its shareholders. ORE's BOD also oversee several Lithium projects under development. So IMHO AVZ shareholders should be entitled an answer to the following question...
How do AVZ's remuneration committee reconcile and/or justify rewarding their Directors $19 million at today's prices (i.e. over and above their normal remuneration)
, more than 4x the amount that ORE's board are seeking by comparison for the 2021/22 financial year?
Furthermore I'd highlight
Kodal Minerals BOD, who also oversee a Lithium development project located in Africa. The below is a great example of a non-revenue generating company doing the right thing by/for its shareholders IMO.
View attachment 3816080
GLTA and don't be afraid to ask the glaringly obvious question (extreme disconnect IMO) at today's AGM.
Just because the SP is finally starting to reflect the real potential of Manono, doesn't mean that shareholders should rejoice prematurely & automatically approve millions upon millions of dollars in PRs at this crucial stage of development IMO.
The time for ULTRA 'fat fee increases' IMO can be realised
after
a) AVZ ticks ALL the KEY development/construction boxes (i.e. on time and within budget), and
after
b) the BOD has proven that it has the skillset to generate substantial revenue and profit for its shareholders.
See you at the AGM.
Cheers
Elpha
(20min delay)