Todays RNS.29 Aug 2024 11:30
Further to todays RNS.
In Dec 2023. "Zanaga Iron Ore Company Limited announced the appointment of Martin Knauth as Chief Executive Officer with immediate effect. Mr. Knauth is a senior mining executive with extensive experience in the industry spanning more than 30 years in a wide range of cultures, countries and commodities, with notable success in project development, operations and transformational growth phases, as well as establishment of performance cultures. With previous experience in Australia, Kazakhstan, Madagascar, Cuba, the DRC and many other jurisdictions, working for such companies as Western Mining Corp, Vale, Sherritt Metals International, KAZ Minerals and Glencore.
He has a strong record in establishing and maintaining positive relationships with governments, communities, employees and other Project stakeholders critical to the Company's success. Mr. Knauth holds a Bachelor's degree in Mining Engineering from the University of Queensland, a Masters degree in Mineral Economics from Curtin University and is a Member of the AusIMM. Mr. Knauth will not be joining the Board of Directors at this stage, but a potential Board role will be considered in the future."
MK was brought in specifically to do a job here and specifically to get the best possible price for selling Zioc. He was never appointed to Board, and looking at the company,s recent history of paying salaries to staff, all MK has probably been paid to date is "all expenses only"
Today , Clifford Elphick, Chairman of ZIOC commented:
"Marty has played an instrumental role in delivering an update cost estimate for the Zanaga Project and advancing progress with potential Strategic Investors. The ZIOC Board has unanimously agreed to the granting of share options and is delighted with Marty's efforts to date, and expect to see his efforts delivering meaningful outcomes in due course."
If MK has managed to dispose of Zioc for what we really believe it is worth..(take your pick; anything between $2 and $10 Billion) , then you AND HE would expect his total remuneration package, including commission, to run into the multi-million pound bracket.
Surely, the ZIOC board already have a very good idea of what the share price will relate to when the deal finally gets across the line and have therefore come up with this 1.5million figure.
Hopefully, within the next few weeks, we will all know just how much MK has been paid.
AIMHO, but....as usual.....alwayshoping
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