Largo's Market Value vs Mgmt Compensation 2021 = Largo’s first full year of commercial independence after the expiration of the Glencore off-take agreement. Since then the company’s market value has plunged in a big way.
Largo stock is certainly aligned with the prices of Vanadium which are outside of management control. However there are two other main factors within management control that have caused the current collapse of Largo’s share prices. These 2 factors are 1) the unexpected vertiginous increase in costs and 2) the failure of the management team to deliver the company’s strategic plans.
The following chart shows that Largo has lost ~87% of its value from May-3-2021 to Nov-17-2023. From May-3-2021 to the end 2022, about 67% of the company’s value went up in smoke and yet in 2022, Cleave annual compensation increased from ~C$1.25M to ~C$1.3M while Vollant’s jumped up from ~C$602K to ~C$919K (up 53%). Paul Vollant (who was hired by Mark Smith as Director of Sales in Sept 2019) has been further promoted to the position of "Chief Commercial Officer in order to oversee all sales and strategic business development efforts related to the commodity division of the Company” in May 2023. So I do expect his salary / compensation to continue to increase in 2023.
Also note that P. Misk resigned in Feb 2023.
DYODD
Source: money.tmx.com