RE: Trolling10 Jan 2023 13:57
ARCM thank you for singling out my comments for your response. I take that as a mark of respect by you for my opinions. That’s good to know and I appreciate it.
However be prepared for me to be “… as arrogant as ever …” I mean how dare I have a view that’s different to yours and worse still freely express that positive opinion on this bb. What arrogance!
Anyway fun over with. I take issue with your implication that since the share price peak FM has paid himself several million (did you mean £ or $ … it makes quite a difference so please pay attention to detail). The peak sp was late 2018 so let’s allow the facts to do the talking … if that is ok with you? Here is his salary for 2019 to 2021:
2021 $424k
2020 $603k
2019 $816k
That is not the “several million” that you mistakenly quoted (some less charitable folks than myself might even say lied about). I will concede that he is well rewarded for doing the job but your dramatic exaggeration is simply unacceptable.
No one complained about his 2019 package which reflected the profits from 2018. Since then, and despite huge progress in developing and expanding the business as one would expect in any good growth company, financial performance has suffered and that is reflected in the massive cut to his remediation, and rightly so. Given that we had Covid, global logistical problems and lower than hoped for V prices during this period it is not surprising that this primary vanadium producer had a tough time.
As a matter of interest here is what he was paid leading up to and during the highly profitable years of 2017 and 2018
2018 $268k
2017 $108k
2016 $108k
I believe FM holds about 12.8 million shares (happy to be corrected if that figure is out of date). He will be every bit as disappointed with the share price as the rest of us but I believe rightly he is focussed on the business, particularly production at Vametco and Vanchem which seems to have gone very well. This sets up 2023 as potentially a very good year, especially if the V price holds up and all indications are that it should.
I suspect a combination of frustration with the sp and perhaps some envy can fire up the critics over his reward but fact is that he has built this company from literally nothing to the vanadium producer that it is today. That kind of talent comes at a price. I have been involved with AIM companies in the past where the CEO was paid far more for doing sweet f a. He has built a very solid business and is delivering on his promise to create a large low cost vertically integrated vanadium platform.
Anyway ARCM if you consider this reply as arrogant so be it … your problem not mine. I have tried to stick to facts and where I express an opinion then as far as possible it reflects those facts. Unlike some of my critics I attempt to explain the detail behind my opinions.
So all just my opinion for which there is no charge!
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