RE: Excellent news30 May 2025 21:47
"‘ we will deffer our wages for a period of time’"
How much do the collective BoD salaries & contributions cost GDR per month?100k/ 20% of monthly cashburn? Almost!! last year it was 18% of monthly cashburn.
Looking at last years annual report the BoD , executive and non executive salaries (and James cheek and Mr Budds salary) cost GDR approx £900k. Thats £75k per month. In 2024, the cashflow was roughly £420k per month. So 18% of the monthly cashburn in 2024 was paid in salary to BoD and former BoDs on garden leave. I wonder whether the garden leave is continuing this year? Perhaps it is for Mr Cheek, after all Mr Budd resigned officially in september 2023 yet he still appeared in the annual report at the end of 2024, receiving £207k for gardening in 2024.
"
Salary, with effect from the 1 July 2024:
The CEO salary remained at £200,000
The CFO salary was increased 3% to £162,000 "
For a consistently loss making company with a 500k monthly cashburn, these figures are eye watering. Especially considering what GDR now have left in the bank today (approx. £2.5 M, is my estimate based on an RNS two months ago whjen they raised £2M, I think GDR raised £2M at the end of march?).