Not wrong sevo! Pretty sloppy all round to be honest. PWN might as well be prospecting on the moon. RUM don't know what end of the shovel to use. ORE couldn't organise you know what in a brothel with a fist full of $50's, WHE have been ripped, STB are dreaming as are HMI, and now we have RRR, keen to ride the gravy train.
Form the RRR prospectus:
Mr Zadko's cash remuneration will consist of $220,000 per annum plus statutory superannuation. He will be provided with a car and mobile telephone. Additionally, Mr Zadko will be issued with 1,000,000 class A Performance Rights and 1,000,000 class B Performance Rights.
This is for the chairman. Another director gets the same deal. For a company fresh out of the blocks in this environment, this is rich. In the first two years, the salaries of these two directors will be equal to 50% of the entire exploration program cost over the same period! Throw in the hanger-ons and the proportion of overhead will dwarf actual exploration.
Welcome to the ASX!
RWD Price at posting:
65.0¢ Sentiment: Hold Disclosure: Not Held
