Ann: Appointment of Managing Director / CEO, page-13

Talk about snouts at the trough, Cedric was a choir boy in comparison.
A salary of $325,000 plus super, + 10 million shares ( 150 million pre consolidation).
Short term bonuses with a low base ie just 58% grade and 400,000 tonnes of iron ore. (Which iron ore company produces just 400,000 tonnes in a year ?)
Long term bonus of 300% of salary, paid in shares. This bloke could virtually own a huge part of IOR in a couple of years with a total of
24 million shares.
For doing what? Producing crap 58% grade iron ore and a pitiful 400,000 tonnes annually. Every dollar profit IOR makes will just go to pay the CEO salary. The only person who will make money is the new CEO.
Heaven knows why anybody would buy this garbage.