Adavale Resources Management

Management criteria checks 2/4

Adavale Resources' CEO is Allan Ritchie, appointed in Sep 2020, has a tenure of 3.67 years. total yearly compensation is A$132.00K, comprised of 100% salary and 0% bonuses, including company stock and options. directly owns 1.4% of the company’s shares, worth A$85.14K. The average tenure of the management team and the board of directors is 2.5 years and 2.8 years respectively.

Key information

Allan Ritchie

Chief executive officer

AU$132.0k

Total compensation

CEO salary percentage	100.0%
CEO tenure	3.7yrs
CEO ownership	1.4%
Management average tenure	2.5yrs
Board average tenure	2.8yrs

Recent management updates

Recent updates

We're Hopeful That Adavale Resources (ASX:ADD) Will Use Its Cash Wisely

May 22

CEO Compensation Analysis

How has Allan Ritchie's remuneration changed compared to Adavale Resources's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-AU$6m
Sep 30 2023	n/a	n/a	-AU$5m
Jun 30 2023	AU$132k	AU$132k	-AU$5m
Mar 31 2023	n/a	n/a	-AU$5m
Dec 31 2022	n/a	n/a	-AU$4m
Sep 30 2022	n/a	n/a	-AU$4m
Jun 30 2022	AU$108k	AU$54k	-AU$5m
Mar 31 2022	n/a	n/a	-AU$4m
Dec 31 2021	n/a	n/a	-AU$4m
Sep 30 2021	n/a	n/a	-AU$3m
Jun 30 2021	AU$37k	AU$30k	-AU$2m
Mar 31 2021	n/a	n/a	-AU$2m
Dec 31 2020	n/a	n/a	-AU$1m
Sep 30 2020	n/a	n/a	-AU$824k
Jun 30 2020	AU$47k	n/a	-AU$535k
Mar 31 2020	n/a	n/a	-AU$518k
Dec 31 2019	n/a	n/a	-AU$500k
Sep 30 2019	n/a	n/a	-AU$514k
Jun 30 2019	AU$68k	n/a	-AU$527k
Dec 31 2018	n/a	n/a	-AU$529k
Sep 30 2018	n/a	n/a	-AU$537k
Jun 30 2018	AU$50k	n/a	-AU$545k
Dec 31 2017	n/a	n/a	-AU$567k
Sep 30 2017	n/a	n/a	-AU$499k
Jun 30 2017	AU$8k	n/a	-AU$432k

Compensation vs Market: Allan's total compensation ($USD87.28K) is below average for companies of similar size in the Australian market ($USD296.74K).

Compensation vs Earnings: Allan's compensation has increased whilst the company is unprofitable.

CEO

Allan Ritchie (57 yo)

3.7yrs

Tenure

AU$132,000

Compensation

Mr. Allan Ritchie serves as Chief Executive Officer at Adavale Resources Limited since September 8, 2020. He was a Non-Executive Director at Adavale Resources Limited since April 28, 2017 until December 11...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Allan Ritchie	Chief Executive Officer	3.7yrs	AU$132.00k	1.4% A$ 85.1k
Leonard Vun Math	CFO & Company Secretary	2.6yrs	AU$60.00k	0.13% A$ 8.2k
David Riekie	Executive Director	2.3yrs	AU$150.00k	0.74% A$ 44.9k
Paschal Wadeya	Chief Geologist	2.3yrs	no data	no data

2.5yrs

Average Tenure

Experienced Management: ADD's management team is considered experienced (2.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Riekie	Executive Director	2.8yrs	AU$150.00k	0.74% A$ 44.9k
John Hicks	Non-Executive Director	2.8yrs	AU$52.00k	0.53% A$ 32.6k
Grant Pierce	Independent Non-Executive Chairman	3.8yrs	AU$113.97k	0.76% A$ 46.4k

2.8yrs

Average Tenure

Experienced Board: ADD's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.

Adavale Resources Management

Management criteria checks 2/4

Key information

Recent management updates

Adavale Resources Limited, Annual General Meeting, Nov 24, 2023

Less than half of directors are independent

Adavale Resources Limited, Annual General Meeting, Nov 29, 2022

Less than half of directors are independent

Adavale Resources Limited, Annual General Meeting, Dec 21, 2020

Adavale Resources Limited Appoints Allan Ritchie as CEO

Recent updates

Adavale Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million.

New major risk - Shareholder dilution

Adavale Resources Limited, Annual General Meeting, Nov 24, 2023

New major risk - Negative shareholders equity

New major risk - Shareholder dilution

Adavale Resources Limited Announces Nickel Sulphide Host Rocks Intercepted At Kabanga Jirani

Adavale Resources Limited Intersects A Prospective Layered Mafic and Possibly Ultramafic Intrusions Containing Visible Low Tenor Iron Rich Sulphide Zones in the Initial Two-Holes Testing the HEM 2 Target Area

Adavale Resources Limited Receives Approval for Drilling Lake Surprise Uranium Project

Less than half of directors are independent

Adavale Resources Limited Announces Diamond Drilling Underway At Kabanga Jirani Nickel Project

Adavale Resources Limited, Annual General Meeting, Nov 29, 2022

Adavale Resources Limited Announces Drill Rig Mobilising to Kabanga Jirani and Luhuma Projects

Adavale Resources Limited Announces Approvals Advanced for Drilling At Lake Surprise Project

Adavale Resources Limited Advises the Helicopter-Borne Electromagnetic Survey

Adavale Resources Limited Commences Helicopter-Borne Electromagnetic Survey at Kabanga Jirani and Luhuma Nickel Projects Located in Tanzania

Adavale Resources Limited Selects 9 High-Priority Areas for Immediate Heli-Borne EM Survey

Adavale Resources Limited Announces Significant Progress on Upcoming Low-Cost Air-Core Uranium Drilling Campaign on 100% Owned Uranium Tenements At Lake Surprise Uranium Project, South Australia

Adavale Resources Limited Announces Significant Progress on Upcoming Low-Cost Air-Core Uranium Drilling Campaign on 100% Owned Uranium Tenements At Lake Surprise Uranium Project, South Australia

Adavale Resources Limited Announces Outstanding Results from Current Ground-Based Gravity Survey Program at its 100% Owned Kabanga Jirani Nickel Project and Farmed-In Luhuma Nickel Project

Less than half of directors are independent

Adavale Resources Limited Advises the Positive Survey Results Received from the Gravity Survey Commenced Last Month

Adavale Resources Limited Commences Exploring At Luhuma Nickel Project

Adavale Resources Limited Announces Lake Surprise Uranium Geochemistry Results

Adavale Resources Limited Provides Update on Early 2022 Exploration Plans

Adavale Resources Limited Announces Results from the Recent Work Program on Its 100% Owned Lake Surprise Uranium Project Tenements in South Australia

Independent Non-Executive Director Stergios Georgiadis has left the company

Adavale Commences Maiden Drilling Ahead of Schedule

Adavale Resources Limited Announces Rig and Drilling Crew Arrive on Site

Adavale Granted Ruiza North East Licence

Adavale Resources Provides A Brief Update on Its Preparation for Drilling in June

We're Hopeful That Adavale Resources (ASX:ADD) Will Use Its Cash Wisely

Adavale Resources Provides Update on its Exploration Work to Refine Drill Targets for the Phase 1 Drilling Program, on Track to Commence in June 2021

Adavale Resources Limited Provides Update on Initial Exploration Program Undertaken in the Last Six Weeks of 2020

Adavale Resources Limited Provides an Update of Next Phase of Fieldwork and Summary of the Technical Background Behind its Exploration Program

Adavale Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.503675 million.

Tanzanian Mining Commission Grants Adavale Resources Limited Four Nickel Sulphide Prospecting Licences, Namely Burigi, Burigi North, Kabanga East and Kabanga West Licences. Adavale's Licences Now Total Six with A Combined

Adavale Resources Limited Provides Nickel Sulphide Exploration

Adavale Resources Limited announced that it expects to receive AUD 1.4 million in funding from Ausbil Investment Management Limited

Adavale Resources Limited, Annual General Meeting, Dec 21, 2020

Adavale Resources Limited Announces Commencement of Nickel Sulphide Field Exploration Program

Adavale Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.29 million.

Adavale Resources Limited Lodges Prospecting Licence Application over the Burigi North Nickel Sulphide Prospect in NW Tanzania

Adavale Resources Limited Obtains Exploration Data and Target Generation

Adavale Resources Limited Appoints Allan Ritchie as CEO

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure