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Indeed LaurenLouise, it's the 'principle' that you should accept. I never said they should hold too many shares, which they don't even come close to doing btw. There's a reason why the market responds +vely to director ownership, regardless of them being non-execs or not.
Well GGG...... it's the principal that you should accept...
That would require a lot more shares than currently held by our directors LaurenLouise. And apart from TB our directors hold very few.
Bluetiger, thanks for the advice. Wise, but I'd rather buy at this level to lower my average given I have confidence in the turnaround story. Providing mgt deliver on their targets the only fly in the ointment (other than floods etc) is the copper price. The market hasn't quite worked out the direction of travel yet. My hope is of course we don't drop below $3.50 as this will take the shine off a 7ktn per year run rate. If we hit our production targets and copper holds steady (or ideally increases above $4) then I can see us back in the 30's quite quickly.
Also, I normally pay attention to average volume / liquidity and adjust how much I own on that basis. But one needs to keep in mind that liquidity increases as a company grows (mcap), so providing they deliver on their production targets you'll get a re-rate in both the sp (mcap) and liquidity. To be honest my finger is hovering over the buy button for one last purchase to take me up to 1.25m shares (0.75% of the company). Current thinking is I'll top slice when we hit the mid 30's and then probably hold 500-750k depending on the company outlook. If they deliver 2 x months of +650tn I simply cannot see this staying below 38p (£60m mcap) as there's no way we're not throwing off cash at circa 8ktn forward 12 month production (with copper price holding above $3.70). And of course we'll be free of K2, regardless of how many shares the currently own, with a +650tn June we'll see the back of them within a week. Just 1 week to see how our story unfolds. AIMHO GLA
Having too many shares in the company may undermine the independence of the non execs......
So criticising them for not having more skin in the game is wrong...
Agree Prof. To be honest I think every exec should be paid a minimum amount of their annual fee / salary in shares. It annoys me to no end how bod members are happy to sit in a company at a senior level getting paid often exorbitant salaries without putting a hand in their pocket to support it. Non-execs don't get paid the same amount, but they should still be invested. I also agree this is a good thing. As was the contractor fees in shares.
Moon, as everyone on this board has said at some point, f@ck off. I used to feel sorry for you as it's obvious you have some kind of mental issues. But you're such an irritating board insect that all pity is gone. Go and make some more of those brilliant Youtube videos and put your pocket change into Litecoin and leave RMM to the grown ups. No one will miss your pennies here.
Edecatate me if the company hold no shares in treasury how can you pay them in shares a just ad it to the total shares in the company keep adding the total share going up up ?
Unprecedented,
I agree.
Best wishes,
Prof
Hi Nonegspleeze,
My logic goes something like this:
-if they are non-Execs I would expect them to be highly experienced and successful
-if they are highly experienced and successful I would expect them to be reasonably wealthy
-if they are reasonably wealthy with great insight into a company with fantastic prospects then we might expect two non-Execs to hold more than £50k in shares between them.
So yes, while I am pleased that they have taken their entire remuneration in shares, I would like them to have more skin in the game.
Best wishes,
Prof
If I was a non-exec I would not agree to payment in shares if a further cash raise was on the cards - I think this is very good news
Prof, they're non execs, and they've just accepted their ENTIRE ANNUAL SALARY in shares at 26p+.
But you'd still like them to have more "skin in the game"?
Jeez.
We going bk to borrowing just waiting for tht to happen
Good that 2 Directors are taking their annual fees in shares. Also good that they are doing so at a share price 25% higher than current market rate (26.74).
Slightly worry is the extent to which the company feels it is having to conserve cash - although we know cash is tight so all efforts are sensible. Second slight negative is that even after this both Directors still have remarkably few shares. Would be really nice to see more skin in the game by them however they are increasing so still good.
Not sure this is enough to influence the SP either way. However combined with TB's purchase and our major supplier taking shares in lieu of payment we are seeing a whole group of people, seemingly in the know, take more of a stake in the company, and all at higher SP than current valuation.
Best wishes,
Prof