The office of President of the USA is arguably the most powerful on the planet.The incumbent can authorize the launch of Patriot Missiles, is Commander in Chief of the most powerful military on earth, and in times of "chaos"can over ride Congress and rule by decree.Put simply he has the power of life and death and must carry the heavy burden of responsibility which goes with it. Salary-$400,000 of which $20,000 is being returned to the treasury as a personal sacrifice gesture in sympathy with those who suffered job losses during the government shutdown.Politics-sure...but a nice touch just the same.
Closer to home in an office in Charles St. North Perth is housed a small public company which fancies itself as a soon to be gold producer.It has the licence to raise capital,authorize a drilling programme at Gullewa,and should the dream materialise, direct mining operations.CEO salary package circa $500,000. Developing and bringing an ore body into production is harrowing and something which most people could not do.Being president of the USA is even more harrowing which even far less people are able to do.Yet on this scale there appears to be a remuneration mismatch, particularly when current circumstances call for austerity. Apart from the CEO,the rest of the board rewards itself on the higher side of adequate, while Mr.Obama receives only twice as much as our secretary.
One could feel certain that no credible case exists which could justify the responsibilities of the latter being more onerous than that of the former.A jury would reject such a notion in less than a nanosecond.It could be argued that the mechanism for this imbalance is more about a sense of entitlement and less about a fine weighting of the responsibilities involved.
Since this saga began last year, the mood of numerous shareholders at least has turned sour and cynical.With the timing of a recovery in the POG being anybody's guess, there is real concern amongst shareholders that MYG may not survive and that it's demise is being enhanced by a board refusing to tighten its belt..The board,has apparently never demonstrated these same concerns.
Rubbing further salt into the wound is the fact that the MYGOB'S will expire on the same day as the AGM. Sitting on yet another large loss,we are expected to look favourably upon the remuneration requested. Some will. Many won't.The board could be hard pressed to get this one over the line.
FOOTNOTE- Converting AUD/USD is not relevant here.A domestically earned and spent buck gets you about the same in both places.
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Last
$1.30 |
Change
0.095(7.92%) |
Mkt cap ! $120.7M |
Open | High | Low | Value | Volume |
$1.24 | $1.34 | $1.22 | $78.68K | 60.92K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 27082 | $1.29 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.30 | 9532 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 27082 | 1.290 |
1 | 800 | 1.250 |
2 | 8557 | 1.220 |
1 | 4769 | 1.200 |
1 | 40 | 1.195 |
Price($) | Vol. | No. |
---|---|---|
1.295 | 9532 | 1 |
1.300 | 11915 | 2 |
1.310 | 861 | 1 |
1.330 | 32870 | 2 |
1.420 | 1000 | 1 |
Last trade - 15.48pm 01/08/2025 (20 minute delay) ? |
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REDCASTLE RESOURCES LIMITED
Ron Miller, Non-Executive Director
Ron Miller
Non-Executive Director
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