I believe that all Director's and key management personnel like Joe Ranford need to halve their remuneration until the Company starts to generate revenue. At least if they receive shares/ZEPO's then they're more aligned with shareholders and may need to fight harder to make it succeed.
The Company previously paid not one - but two independent companies to conduct an apparent 'peer company' review to calculate their extremely generous remuneration packages.
Now that the market cap of our company has more than halved since that time, we need to see a reduction in what they are being rewarded with.
You only have to look at the other companies that Mick Wilkes is on the Board of and compare it to Andromeda:
1. Andromeda Metals: Role: Non Exec Chair Remuneration: $200,000 Market Cap: $27 Million
2. Kingston Resources: Role: Non-Exec Chair Remuneration: $104,000 Market Cap $55 Million
3. Genesis Minerals: Role: Non-Exec Direc Remuneration: $101,000 Market Cap $2.4 Billion
Change has to start at the top.
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