"In furtherance of the board’s commitments made to shareholders in the Information Circular and subsequently, the Company is pleased to advise that it is delivering on its promises in the area of corporate governance and has established a compensation committee, consisting of a majority of independent directors, in addition to its audit committee."
In the circular Lori shows how her compensation was increased to $7500 per month paid to her company for the use of her services among other self serving particulars. It seems the compensation comittee was not comprised til a later date and although still roughly the same directors, it is unclear who actually approved her increase in compensation, unless its in the circular. I believe a reference of a sort of parachute may be there as well, another thing the Exchange doesn,t really condone.
The point I am trying to make is that this corporate goverance thing taken at face value would appear a step in the right direction to an unwary reader, but after scrutiny and research by the reader, they can probably see that it is rather another mockery of the shareholders and regulators.
I would also suggest that a raise in pay for the CEO after this years performance of the sp is unwarranted, with a dwindling treasury. She goes on in the next line/paragraph of the news release to say this, "The Company is committed to moving St. Elias forward for the benefit of all shareholders." All I see here is benefit to Lori and further pressure on the treasury which in turn definitely does not benefit us.
IMO
