It's not envy of his salary, it's utter frustration and disappointment in what has been delivered versus what has been promised.
The CEO works for the Board, the Board works for the Shareholders. In the past 10 years the CEO has been paid handsomely, so has the Board - but so far it's not customers that have paid them, it's the Shareholders, and for what? Delay after delay and hype that gets overinflated and then fizzles.
Yes NM did well with Arrow, and also with Mt Isa/Orbis, but what since then? I bought in heavily to the Armour IPO (at 50c) on the back of NM's prior track record and "vision". When his attention was diverted towards Solgold I bought in there too, despite Armour floundering. There have been numerous other prospects that could of/should of but never did and over the last 5 years I've had nothing but cap raise after cap raise and heavy dilution to Nick and his mates.
I appreciate your patience, but mine has its limits.
Imagine if you hired a builder to do an extension on your house. He shows the amazing plans and tells you how much it will cost and how long it will take. Then 6 months in, he tells you its going to cost even more, and take even longer. You're not happy, but the plans look good so you go along with it.
A year goes by, then another. The house is coming along and looking good, but still isnt finished. The builder tells you he needs more money, oh and the rain is going to set him back another 6 months. You don't have any more money to give, so he moves into the garage and lives rent free instead. Before long, the council have changed policies and now all the plans you had are put in doubt as you might not have approval to do the build at all. Still more money needed, you don't have it so he draws a line down the middle of each room and now half is his.
At what point do you start to question whether he will ever build you a house, and whether you will own any of it if/when it is finished?
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