Post by
minefollower on May 24, 2023 4:35pm
Executive compensation
The CEO was paid $642,296 in 2022 and his compensation has more doubled in the past six years. The total compensation paid over the last 6 years (cash and shares) was $2.7 million!! This excludes option rewards which would have added another $912K.
Shareholders have yet to see any real returns. The stock price six years ago, in May 2018, was ~$0.36, when the CEO compensation was less than half what it was in 2022. So what does the compensation committee do when considering a zero percent return for shareholders over this time, they more than double CEO compensation. Good on the CEO for lining his pockets, but it makes the board look useless.
Boosters will say how Bayan Khundii is shovel ready and will be producing soon, blah, blah, blah! There's no way the stock price moves much without significant additional ounces to the resource. The compensation committee is already paying the CEO on the assumption a couple million ounces will show up. For the sake of shareholders, I hope they are right.