Member Info for MutleyInferno

I'm sorry but this just makes it more frustrating.

Firstly, JP's salary can't be at or below the average for his position. It can only be one or the other. It is either at the average or below the average. If he is worth the average then pay him the average. Don't create some guaranteed bonus scheme to artificially inflate a salary. It just leads to confusion and mistrust.

Secondly, it doesn't matter if a bonus was actually paid in cash, peanuts or given back to the company for options. Either mechanism rewards a person for a performance which should be over and above what would normally be expected of their role within the business or if the company as a whole has performed exceptionally well.

I'm still backing the BoD to deliver and certainly hope that over the next 6-12 months they take a step back and looking at how some of these decisions are going to be viewed by shareholders.

It's very difficult to achieve without the participation of the BoD. They could start by appointing a nominated shareholder as an independent arbitrator to the remuneration committee or as a minimum listen to some real debate about what is acceptable and what isn't.

I don't think any shareholders have any problems whatsoever with Directors earning obscene amounts of money if the company succeeds and the wealth is shared amongst "all" stakeholders.

The BoD should be paid a suitable salary for doing their jobs, paid a bonus if the company is profitable (in cash terms not creative accounting terms) and be given options related to the share price performance.

A suitable formula shouldn't be that hard to find whereby everyone gets a share of the success if and when the company succeeds.

Bringing the BoD down is a ridiculous idea.

Yes mistakes have been made, some transactions seem far to incestuous, but I would like to believe at least JP and PW can learn from these mistakes and genuinely take the business forward to achieve great things.

Trust has to be restored and remuneration, particularly annual bonuses, needs independent scrutiny with a formula that links bonuses directly to performance and share price.

I think it's fairly safe to say that the balance of recent opinions voiced on here are that JP's bonus was inappropriate given the share price performance over the last 12 months.

As a reasonably significant shareholder (I have many times more than AB) I would suggest that to restore faith and the credibility of the BoD that all the directors return their bonuses for last year as an interest free loan for a period of 2 years and ring fence the loan towards the early progression of Leigh Creek.

Once Leigh Creek is up and running and the shareholders are getting rewarded as well as the BoD for their patience and understanding then the loans get repaid to the Directors.

I invested in this company based on it's potential and also on what I perceived to be an honourable BoD acting in the true interests of it's shareholders and looking after our interests first and foremost. I still believe the potential is there with SML so please BoD's restore a little faith. There is a way out of this current constant negativity all you need to do is grab the opportunity.

I know you read this John so I hope this post doesn't fall on Deaf Ears. We need you to do the right thing!

If others feel the same way I'd suggest a post of a similar nature.

Pretty scathing but sums it all up quite nicely! It wasn't supposed to happen this way :-(

You can instruct HL how you want them to vote on your behalf.

From the HL website:

if you wish to vote without attending the meeting you can send (by secure message or post) a voting instruction to Hargreaves Lansdown and your vote will be forwarded to the company.

There's still a couple of weeks left on the 5.5p options. Maybe they've got a massive cat hiding in a very large bag ready to be produced :-)

Based on the last 12 months disappointment would certainly have been one of the emotions in the room! Fingers crossed for the next few months replacing that with optimism.

Maybe someones been listening to this recent interview with JP and VSA where they discuss a fair share price of 1.5p. 3x where we are now!

https://soundcloud.com/user-596578261/vsa-capital-podcast-episode-34-john-peters-md-of-strategic-minerals

Maybe DJ has seen the light and is buying in again :-)

Either that or more likely PW buying up a few more!

Probably neither but someones fairly keen though.

I sense an understandable degree of frustration and change in tone in your most recent posts.

As one of our larger shareholders and in lieu of an AGM why don't you organise a consolidated list of questions from yourself and this BB and email them to JP. I'm sure he will respond if he has time.

I for one would certainly like to know what is actually happening at the moment to progress Redmoor and also to justify why LC was peddled to shareholders as a low cost quick cash generating environment when in reality it is turning out to be very expensive and slow to get up and running.

We also bought the remaining 50% of CARE so we could progress it at our leisure and then it was shelved. How can we be sure the same isn't going to happen at Redmoor.

P.S. Yes I'm frustrated too! We were supposed to be hitting the BOD 5.5p options by now.

Probably waiting for any settlement to hit the bank account before jumping in!

Not long to wait for 1) - Arbitration Ruling. From memory the arbitrator promised a decision before the end of May.

A positive result should give the share price a small fillip at least.

If we manage to get any hard cash then I think we're off and running again and back up to the 3-5p range.

It's down for me too!

I must be insane then because I'm still waiting for the £100M MCap that matches the BOD aspirations.

Seems a long way off though :-(

Nice Interview John. Hopefully everyone takes away the fact that you think we're undervalued.

I do too!

From memory JP said his average was around 1p so at around 50-60Million shares he's down quite a bit too. Probably about £250K down so he's definitely incentivised to resolve the current issues.

I'm sure JP thinks he can reverse his 50% loss and make good money so I'm happy to sit patiently waiting for him to reverse my 50% loss too!

Yes I know he gets a good salary so no need to remind me! I was just making a point.

Any news would be nice!

I invested in AIM for a bit of excitement. This is all getting a little dull over here :-(

Looks like someone's having a bad day!

Where's the Optimism BigAsk?

If that's your opinion and sweeping generalisation of AIM stocks why are you wasting your time commenting here.

I hope I'm wrong too.

No doubt they're working on both things in parallel so I'd expect a funding announcement just after the PEPR comes through.

Getting a commitment on funds sooner would no doubt help the share price but I don't think it's going to get us mining any quicker.