What is reasonable CEO remuneration?, page-22

RM salary and AVQ, In comparison to a few random, all different mining companies.


IGO - Managing Director: $800k + Incentives / Annual Revenue: $777m (FY18) / SP - $4.60


PAN - MD $553k + Incentives / Annual Revenue: $1.3m (FY18) / SP - $0.55


PLS - MD $492k + Incentives / Annual Rev -$19m (FY18) / SP - $0.88. Company hit significant KPI's, sourced debt funding, signed offtake agmt, accusitions etc


ASL - CEO $750 + Incentives / Annual Rev $887m (FY18) / SP - $1.80. Company had net profit of $61m.


I understand these companies are all different on many levels but they have a few things in common - they are making significant advances, detailed corporate structure with accountability In place. The board Implements KPI's on the MD and executives. Read anyone of the Annual reports and then read AVQ's.


IMHO Whats missing with AVQ:

- a detailed remuneration structure for CEO and entire company
- detailed STI (short term Incentive) LTI (long term Incentive) reward structure measured against KPI's.
- a functIonal corporate board controlling Implementing things - hopefully thIs may change now wIth new addition
- A level of corporate professIonalism like Its peers


These are sImply just comparisons showing why IMHO RM shouldnt be taking the salary he is. When the company Is makIng money dIfferent story. If the company Is making signIfIcant advances dIfferent story. But, getting a mIning lIcense doesnt justIfy It. My opInIon and Im not attackIng anyone.