We all understand that to attract talent requires paying money, however in saying that, there are many companies out there today with MC's in the billions and millions reducing salaries, letting go of directors, etc, which is tied to the performance of the company and the situation surrounding the particlaur industry they are involved in. A great example is the gold industry (no need to explain).
U308 might be at the bottom of its cycle, or it may not be. It would be fair to assume that its at a pretty low point currently, and to conserve cash in anyway would be the smart thing to do, while still making sure that the company still continues to achieve its plans, while also trying to minimise dilution. A reasonable person would think that PEN would still be able to do this with a reduced salary strucutre and even minimising directors, heck, some of the current salaries being paid could even be used to obtain 2 directors for the price of 1, or even 3 for 1, and they could be from the U308 industry with plenty of experience.
It's not so simple as stating "Of course there are many varying opinions on what "reasonable" remuneration is, and asking someone on 60k per annum whether Gus is overpaid or not is a futile exercise." When the SP is currently 0.027c, MC of ~$80, billions of shares on issue, the amount of options and performace incentives on offer, even a person on a 200k salary would probably think it's a bit much.
"Hussy, there's no need to rely on your gut to divulge remunerations, nor be surprised....it's all in the publications on PEN's website"
I have gone through previous reports over the previous years, and I am aware of the salaries paid, but with the current situation in the U308 industry and the lagging SP, I was hoping that the increase/sideways movement of high salaries in the past few years might've taken a back burner last FY, but the quarterly reports that have been released always showed a large amount going out in admin costs. Even though the quaterly reports showed this, I was still hopeful that the final fugres would be quite less.
"These things are also a matter of vote at AGM's"
If you were to run an analysis over the last 10 years on how many times AGM resolutions got declined on each company listed on the ASX, I am sure we could count them using both hands quite comfortably.
"based on the ultimate ROI"
Based on the figures being quoted by PEN in their public announcments, we aren't looking at astronmical returns that deserve the salaries being paid today, with the current SP.
"Does this look like a penny stock that plans on rooting around for another 3yrs...."
Market and economic forces will determine that.
"Do we think the likes of PALA and Blackrock would have lots of expensive extra passengers on board with grand salaries"
They have too much skin in the game not to go along with it, and bare in mind, they have been in PEN for a while. Where can they go now with the current SP? Who knows what their motives are if PEN reaches 5c, 6c, 7c? Will they sell down a few? Will they buy more? Will they sell at 10c? You or I don't know the answers to these q's.
"Just maybe this is a penny stock about to become a producer and they have been staffing themselves accordingly to ensure that takes place as planned."
Agree, and I am in PEN for the same reason, but the longer you are invested in a company the more premium you chase to make up for lost time.
"My few years investing in stocks have taught me not only to take announcements for information - "this is what we say". I also observe what companies "do" for my information - this speaks much louder than words in my view"
Agreed, and we have seen this with what PEN management have said over the last 5 years, and where we are today.
"Timeline disappointments aside"
You can always forgive but never forget. I am sure your mother has told you to always think before you speak. This applies in everything you do, even more so, when there are vested interests both for yourself and others in play.
"what I see in PEN now is saying and doing are consistent."
That's debatble, but I have written too much.
"We're going to have to wait another few months, but the PEN + Uranium story is unfolding and I'm happy to be on board with both those things."
Well PEN is stating in their announcements that U308 will be produced in 2014. I hope this ain't the same as producing in 2012 and 2013.
I like to see myself as a realist and always take views of both sides (bear/bull) when needed. For those that think "Why don't you just sell?" etc etc, my vested interests in PEN would amount to nothing with the amount of time I have researched, etc if I was to sell right now. Like Blackrock/Pala I have skin in the game, and have had skin for much longer than those companies, therefore, I am looking for a reward for the risks I have taken.
To me seems you are currently happy with the salaries and current functioning of PEN. Each to their own I guess.
PEN Price at posting:
2.7¢ Sentiment: None Disclosure: Held
(20min delay)