Hey Mike with all due respect, I believe you have missed the...

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JamesMaloney987

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23/01/24

15:30

Post #: 72024662
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Originally posted by BiggestMike: ↑

Mr Boston appointed 16 June 2023
Below Extract from MRR release 16 June 2023

The terms of Robert’s appointment are as follows:
1. Base salary will be $300,000pa(AUD) (inclusive of superannuation)
2. Eligible for a cash bonus of up to $50,000 based on the Company’s performance and your performance and contributions over the previous year (payment of bonus at the Board’s discretion).
3. Termination notice period of four (4) months’ by either party orimmediate by the Company by payment in lieu of part or all of notice period
4. Subject to shareholder approval

6 Months later, 30 November 2023 Mr Boston “Resigned” effectiveimmediately.
Why would MRR pay 4 months salary in Lieu, $100,000, ifMr Boston resigned? MRR had no obligation to do so if you believe the above.
If you believe the above, he should only be paid in leuif he was TERMINATED???
Below Extract from MRR release 30 November 2023

MinRex Resources Limited (ASX: MRR) (“MinRex” or “the Company”)would like to announce the resignation of Mr Robert Boston as managing directorand CEO effective immediately.
While a notice period of4 months was required under the Company’s executive services agreement with MrBoston, it has been agreed that his resignation will take immediate effect andhe will be paid in lieu of notice following a short transition period.
MinRex Non-ExecutiveDirector James Pearse commented:
“The Company and Robert have mutually agreed for his roleto cease with immediate effect so Robert can pursue other opportunities. Onbehalf of the Board, we thank Robert for his contributions and wish him all thebest in his future endeavours.”

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Hey Mike with all due respect, I believe you have missed the dart board on this one entirely. Robert was an interim CEO for the company who never wished to achieve anything.

As for the progression so far this year, at least we are drilling Queenslander which is a positive, a defined small resource would be much welcomed this time of year.

Anyone heard from Mick from Mars Bars???? He used to speak with management regularly, I would love to know what is going on behind the scenes as he seems to be the only one alongside Tobia to be able to email and talk with management on a regular basis. Or maybe he has sold his shares and explored greener pastures.

MRR Price at posting: 1.4¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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