For an ASX listed Junior with a $9m MC, this is excessive. How does the Board justify paying Peter $912,278 per annum ? 10% of the Companies Market Cap to keep him in a job ? I dont find this pallatable as a shareholder, looking forward to voting at the next AGM.
I dont like taking a loss if i dont need to, and wish to hold to recover my capital. The team need to be pragmatic, reassess the capital spend, reduce renumeration to a realistic figure in line with market peers, utilise their skill set, find a quality project, move forward and craete wealth for shareholders whilst they still can. If Peter is not the man to initiate this change then we need to find some one who is willing to do this. For $900k a year i would listen to shareholders.
MR1 Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
