Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Https://twitter.com/Larry64450205/status/1661965802789117953?t=qO-wAyusDxmonHC76ax2kw&s=19
https://novacyt.com/investors/ in "general meetings"
Certainly looks like they are trying to confuse the issue regarding salaries - they should choose one currency and stick to it.
From now on it should be every Time in £, like the results. Theyve changed from € to £ last year if i remember correctly.
£320k/annum they want. £320k as reward for destroying the share price and shareholder value.
12th 13th and 14th seem interesting to... no wonder they wont buy any!
thinking no across the lot at the moment!
To think, buying back 10% of the shares in issue would currently (at least theoretically) cost £3m. Petty cash. I'd certainly love to see that. They could then hold them in treasury and a few years down the line make an acquisition payment with them...
And I know how we're all feeling about recent management performance but relatively speaking £320k across the BOD is the opposite of excessive, isn't it?
harchris
they dont suffer, when sp drops, they get paid, they dont do pr, they get paid, they issue half ****ed rns's, they get paid, they hire salad man, they get paid, they get rid of salad man, they get paid, now they want even more control, to ensure, they get paid...
is a picture forming as yet... more and more looking like lifestyle co and not a toss about pi's
they should have had an open face to face agm, not a bloody zoom one! #nospines
imo dyor voting no, to most of it!
£320k each? For almost total destruction of the company?
Harchris, "...buying back 10% of the shares..." Résolution Has been used, for now at least, for the Liquidity Agreement with invest securities.
Re the 320k, my problem is theres now 2 bord members less to pay with that cash (ceo and e. Snape) and its still a 17k€ increase vs 2022. With the results they had, they could have done without imo...
Fair enough, I'm just being a realist and accepting that a board tasked with what they are tasked with are not going to pay themselves minimum wage, however bad the performance has been thus far.
Should they have taken a paycut to at least show they get it? Probably yeah but I don't think there's many in their position that would, sadly.
I'm with you on your point Larry.
Simply cannot deny the support you just got for your post though ValJu, certainly tapping in to what everyone is thinking.
Big difference between minimum wage (I know this was a throwaway remark) and £320k. £320k is an insanely high salary and you should not in any way be impacted by the cost of living crisis on such a wage. They awarded themselves a rise last and now again. They have performed woefully (do they even do any work?) and are giving themselves 10’s of £’000’s in rises. What does someone on £320k need with another £30k gross, I mean they’ll be giving 55-60% back of that to the tax man. Wouldn’t a better way to run a company be to say “no, we’ve performed appallingly and appreciate that for normal people times are so hard, we won’t give ourselves another pay rise but will offer a little bit more to the workers”.
A 10% rise means infinitely more to someone on £30k than it does to someone on £290k. The former will spend it heating their home and feeding their kids, the latter will be shovelling it into already bulging investment portfolios.
Hi pl100...... You have morals... And empathy......money does not = happiness.... It helps build bigger fences so you can shut out suffering... And do nothing... but think you deserve more... feel sorry for him.
They would be expected to recieve a decent wage for the position they hold.
Last year's raise was outrageous considering the lack of any real tangible forward plan
To award another pay rise in view of further sh value destruction ..and the company valued at significantly less than cash...showing the market has absolutely no faith in the bod..is taking the urine.
But as I have said all along...the bod don't care about pi shareholders .
That is why the lack of RNs...nothing malicious just don't care about the sp.
We will probably hear a bit more from them when they need our vote
The annual report has been added :
https://novacyt.com/wp-content/uploads/2023/05/Novacyt_Annual-Report-2022.pdf
@CaptainSwag
"We will probably hear a bit more from them when they need our vote"
I thought that last year, they didn't..
Thats because not enough PI's bothered to vote!
PI's VOTE against pay increases, against increased power to do as they wish, against free share issues (make them bloody well buy some, as they done sod all to justify freebies)
Then lets see if we get there attention?
all imo dyor not advice
So glad we’re paying walbrook for this vital service.
https://twitter.com/walbrookpr/status/1662020046380474369?s=46&t=Oe3f77RPj4YjkvAH8SGo2Q
Ncyt has to be the easiest payday on their books - 1 rns a month plus regulatory ones. Absolutely nothing else. Money for old rope.
Another day in paradise, 4.58% more to go into the long weekend..
Looking forward to winning the dispute and 4 bagging from 8p to 32p
P100 - believe me when i say be glad they are doing nothing more. they destroyed sentiment in ODX with a boozy late curry night tweet.
it is another very poor appointment ...and tbh...as you say really not value for money..let alone to be trusted with a company's reputation
What was the late night curry tweet?
Every day it becomes more and more clear how inept, amateurish and corrupt it all is. It’s literally like the uk government - every single day something happens to give you a face palm moment. To thjnk I was distraught at 50% down at one point.
As for reputation, I don’t think we need to worry much there as it’s about as low as it’s going to get. Proof is in the pudding - the sales figures, no one wants to touch us with a barge pole. No II wants to invest. Not a single board member wants to buy in at a marcap of 28% of the cash value, with no debt. This sort of experience should have a chapter in ‘how to invest’ textbooks. Obviously the chapter would be “how not to invest in utter dog shares”
Re the resolutions, everyone here is voting against anything beneficial to the board, surely?