Northern Graphite Corp V.NGC

Alternate Symbol(s): NGPHF

Northern Graphite Corporation is a Canada-based flake graphite producing company. The Company is focused on producing natural graphite and upgrading it into high-value products critical to the green economy, including anode material for lithium-ion batteries/electric vehicles (EVs), fuel cells and graphene, as well as advanced industrial technologies. Its mining operations include Lac des Iles, Okanjande and Bissett Creek. Its products include Flake Graphite Products and Porocarb Products. The Lac des Iles (LDI) mine is the only flake graphite producer in North America. The LDI mine is located approximately two kilometers south of Lac-des-Iles, Quebec, 110 kilometers (km) northeast of Ottawa and 180 km northwest of Montreal. The Okanjande mining is located in Namibia, one of Africa's finest mining jurisdictions. It holds a 100% interest in the Bissett Creek Project, which is located around 15 km from the Trans-Canada Highway between the towns of Deep River and Mattawa, Ontario.

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Northern Graphite Corp > NGC MORNING BRIEF

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Post by youknowwhaton Jun 08, 2024 9:44am

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Post# 36079109

NGC MORNING BRIEF

Cam Birge was the director that suggested Hugues be hired as CEO. I thought that was a good hire. After 6 months I started questioning in my own mind whether I was an idiot or not After 2 years of Hugues it is time to REPLACE him and Cam Birge should also go.

The following figures represent fiscal year 2022 and are from a SEDAR filing dated June 9, 2023 entitled Management Information Circular page 18.

Hugues Jacquemin appointed CEO on June 8-2022. Salary paid to December 31, 2022 $197,185.00. Share based compensation $368,000.00 and option based awards of $123,411.00.
Total compensation for Hugues of $689,296.00 for 7 months of work.

Guillaume Jacq appointed CFO September19-2022. Salary paid to December 31-2022 $67,150.00. Share based compensation $138,000.00 and option based awards of $98,512.00.
Total compensation for Guillaume $303,602.00 for 3.5 months of work.

Marco Zvanik appointed VP Global Sales June 30-2022. Salary paid to December 31-2022 $106,980.00. Option based award $ 92,000.00.
Total compensation for Marco $198,980.00 for 6 months of work.

Total compensation awarded in fiscal 2022 from June 8 to December 31 to the above executives was a whopping total of $1,191,878 in a six month period.

I certainly do not blame the 3 executives named above for taking that amount of compensation. I do blame the compensation committee for awarding that amount of compensation before seeing any results in the way of performance by these executives.

CAM BIRGE AS THE LONGEST SERVING DIRECTOR ON THE COMPENSATION COMMITTEE SHOULD HANG HIS HEAD IN SHAME AS HE SUBMITS HIS RESIGNATION TO THE BOARD OF DIRECTORS.

Just a comment regarding possible funding from the USA government. If in fact Northern gets a substantial amount of money in my opinion it will not be the result of Hugues or Cam it will be IN SPITE OF THEM. The US government is throwing money every where to further the EV revolution and get President Biden re-elected.

Northern receiving US government funding will not make Hugues a competent CEO or Cam Birge a better director.