Ann: Rob Waugh appointed Non-Executive Chair of Caprice Resources, page-15

I don’t fully agree with that.
Talented and successful people don’t take non-executive director roles just for a $30k or $60k annual fee. Their time is limited and valuable, especially if they’ve built significant wealth through their successful work and carry substantial fixed costs. For someone with annual expenses of $300k, $600k or even much more, such a remuneration might only cover a fraction of their time, but certainly isn’t enough to deeply engage unless there’s a real upside potential.

If you want an "average Joe" on your board, $50k might be enough and they’d be happy with that. But if you’re looking for someone sharp, experienced and capable of making strategic contributions, the compensation must reflect that.

You can’t expect a top-tier talent to commit without a reasonable upside potential, which often means a six-figure package, sometimes tied to performance (e.g. project development thresholds or share price thresholds, which I prefer as a shareholder).Successful people have opportunity costs when they invest their time into something that doesn’t provide adequate remuneration or income.

For example, top business lawyers charge $1,000 per hour or more. If a non-executive director’s remuneration is only $30k a year, you can easily calculate how much time such a brilliant mind can realistically allocate to this board position.Therefore the options package of Rob Waugh should have been much bigger, from my point of view.