RE:RE:RE:RE:Executive Cash Compensation Comparison - 2014/2015 FiscalDid you stop drinking, Sudzie? Looks like you've had a moment of clarity. These are a solid series of posts.
As I suggested, Dev should step down as Chairman and appoint Frank, an Accountant, as the new Chair.
Dev should also reduce his salary to $1 and return the $3mm he's paid himself for 2014-2015 to shareholders by financing FCU at a premium, e.g. $0.75.
He can raise more money by selling a small royalty to Altius or Anglo Pacific. both have shown interest in Uranium.
Only spend exploration $$$ at the land-based R600W. Barge drilling at PLS can get expensive, esp in the Summer. Drilling on the lake should only be done to advance scoping studies at this point.
Dev can still salvage the situation at FCU, but he needs to take drastic steps to show he is willing to create wealth for his shareholders and not just himself.
sudzie191 wrote: Is there any legal option available for the upcoming AGM to require some of the excessive 2014 and 2015 compensation to be returned to the FCU treasury?
Or failing that, no compensation at all for 2016 or at least be tied to some performance measure. For example if share price still at 55 cents next AGM, they get zero compensation for 2016, and if share price recovered to $1.30, they get 50% of what they got in 2015. Clearly they must do something to regain trust, or no fund manager, Sprott, Dundee, Haywood, or anyone else will give them a cent more funding, no matter what the price. giz62 wrote: These eye-popping numbers pale in comparison to the prior fiscal year’s compensation, whereby Mr. Randhawa and Mr. McElroy received some $2,600,000 and some $2,500,000 in total compensation respectively.