Yes, certainly in my view excessive … imo PC is already being paid reasonably well for a business that is only just becoming cashflow positive, hasn’t produced nearly enough gold and yet to show a profit.
In Paul’s defence he doesn’t issue his own performance rights so it would seem the Maloneys et al are approving … clearly they are much more generous than I.
As a peer comparison thou I do recollect Luke Creagh at OBM having recieved in excess of 100m free or 3.5c options / loan shares since commencing, which would be about 20 months from memory. Worth a read.
Yes, I have come across the Wassa gold mine before in Mali .. restrictively or thankfully lol, as an investment rule I don’t invest in offshore operations, the only exception being some coal interests in NZ.
I note the SP got thumped pretty hard in afternoon trading today … can only await newsflow on Scotia, sale process and production.
PNR Price at posting:
8.5¢ Sentiment: None Disclosure: Held
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