Novo Resources Management

Management criteria checks 3/4

Novo Resources' CEO is Mike Spreadborough, appointed in Apr 2022, has a tenure of 3.25 years. total yearly compensation is CA$551.95K, comprised of 82% salary and 18% bonuses, including company stock and options. directly owns 0.2% of the company’s shares, worth €69.86K. The average tenure of the management team and the board of directors is 0.7 years and 3.3 years respectively.

Key information

Mike Spreadborough

Chief executive officer

CA$551.9k

Total compensation

CEO salary percentage	82.0%
CEO tenure	2yrs
CEO ownership	0.2%
Management average tenure	less than a year
Board average tenure	3.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mike Spreadborough's remuneration changed compared to Novo Resources's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	-CA$49m
Sep 30 2023	n/a	n/a	-CA$51m
Jun 30 2023	n/a	n/a	-CA$101m
Mar 31 2023	n/a	n/a	-CA$109m
Dec 31 2022	CA$552k	CA$453k	-CA$16m
Sep 30 2022	n/a	n/a	-CA$153m
Jun 30 2022	n/a	n/a	-CA$17m
Mar 31 2022	n/a	n/a	-CA$15m
Dec 31 2021	CA$3m	CA$236k	-CA$704k

Compensation vs Market: Mike's total compensation ($USD403.86K) is about average for companies of similar size in the German market ($USD401.52K).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.

CEO

Mike Spreadborough

2yrs

Tenure

CA$551,949

Compensation

Mr. Michael John Spreadborough, also known as Mike, B.Eng. (Mining) (Hons), MBA, serves as Non-Executive Director of Evolution Energy Minerals Limited since September 12, 2023. He serves as Non-Executive D...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michael Spreadborough	Executive Co-Chairman & Acting CEO	2yrs	CA$551.95k	0.20% CA$ 69.9k
Karen De Luca	General Manager of Exploration	no data	CA$366.94k	no data
Elza van der Walt	CFO & Joint Corporate Secretary	less than a year	no data	no data
Lisa Smith	General Counsel & Joint Corporate Secretary	less than a year	no data	0.065% CA$ 22.9k
Alwin Roij	Senior Exploration Geologist	no data	no data	no data

0.7yrs

Average Tenure

Experienced Management: 1NO's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Michael Spreadborough	Executive Co-Chairman & Acting CEO	3.3yrs	CA$551.95k	0.20% CA$ 69.9k
Gregory Patrick Jones	Independent Non-Executive Director	less than a year	no data	no data
Quinton Hennigh	Non-Executive Co-Chairman	14.5yrs	CA$130.11k	1.03% CA$ 362.4k
Karen O'Neill	Independent Non-Executive Director	less than a year	no data	no data
Ross Hamilton	Independent Director	3.3yrs	CA$79.69k	no data

3.3yrs

Average Tenure

Experienced Board: 1NO's board of directors are considered experienced (3.3 years average tenure).

Novo Resources Management

Management criteria checks 3/4

Key information

Recent management updates

Novo Resources Corp., Annual General Meeting, Jun 25, 2024

Novo Resources Corp. Announces Board Changes

Novo Resources Corp. Announces Executive Changes

Novo Resources Corp. Announces Management Changes

Novo Resources Corp., Annual General Meeting, Oct 26, 2023

Executive Co-Chairman & Acting CEO recently bought €55k worth of stock

Recent updates

Novo Resources Corp., Annual General Meeting, Jun 25, 2024

Novo Corp. Announces Upgraded Nunyerry North Drill Results Deliver High-Grade Intercepts Up to 6.12 g/t Au

Novo Resources Corp. Announces Board Changes

New major risk - Financial position

Novo Resources Corp. Provides an Update on Drilling Results At the Becher Project

Novo Resources Corp. announced that it has received AUD 1.8 million in funding from Liatam Mining PTY Ltd

Novo Resources Corp. Provides Exploration Status Update

Novo Resources Corp. announced that it expects to receive AUD 1.8 million in funding from Liatam Mining PTY Ltd

Novo Resources Corp. Announces Diamond Drilling to Commence on High-Priority Targets At Belltopper, Victoria

Third quarter 2023 earnings released: CA$0.035 loss per share (vs CA$0.24 loss in 3Q 2022)

Novo Resources Corp. Provides Exploration Update

Novo Resources Corp. Announces Promising Results from the First Six Holes of the company's Maiden RC Drill Program At Nunyerry North, Located in the Southern Egina Gold Camp in the Pilbara, Western Australia

Novo Resources Corp. Announces Executive Changes

Novo Resources Corp. Commences Its Maiden Drill Program At Nunyerry North Located in the Egina Gold Camp in the Pilbara, Western Australia

Novo Resources Corp. Announces Management Changes

Novo Resources Corp., Annual General Meeting, Oct 26, 2023

New major risk - Financial position

First half 2023 earnings released: CA$0.10 loss per share (vs CA$0.13 loss in 1H 2022)

Novo Resources Corp. Provides Exploration Update Across Key Pilbara Prospects and Belltopper Gold Project in Victoria

Novo Resources Corp. announced that it has received CAD 8.982036 million in funding from De Grey Mining Limited

Novo Resources Corp. announced that it expects to receive CAD 8.982036 million in funding from De Grey Mining Limited

Novo Mining Limited Announces Becher Drilling Continues to Intercept Significant Gold Mineralization

Novo Resources Corp. Reports Continued Outstanding Results from the 2023 AC Drilling Program At Becher

First quarter 2023 earnings released: CA$0.062 loss per share (vs CA$0.053 loss in 1Q 2022)

Full year 2022 earnings released: CA$0.42 loss per share (vs CA$0.003 loss in FY 2021)

Novo Resources Corp. Provides an Update on 2022 Drilling Program at its Egina Gold Camp

Novo Resources Corp. Provides an Update on 2022 Drilling Program at its Egina Gold Camp

Novo Resources Corp. Provides an Exploration Update on the MCB

Novo Resources Corp. Announces Beatons Creek Fresh Approvals Update

Novo Resources Corp. announced that it has received CAD 5 million in funding from Liatam Mining PTY Ltd

Novo Resources Corp. announced that it expects to receive CAD 5 million in funding from Liatam Mining PTY Ltd

Novo Resources Corp. announced that it expects to receive CAD 5 million in funding from Liatam Mining PTY Ltd

Novo Resources Corp. Provides an Exploration Update on the Drilling Program in the Karrath District

Novo Resources Corp. Announces Becher Area Mineralisation Expands with More Standout Results

Novo Resources Corp. Announces Significant Results from Malmsbury Victorian Projects Exploration Update

Third quarter 2022 earnings released: CA$0.24 loss per share (vs CA$0.31 profit in 3Q 2021)

Novo Resources Corp. Reports Impairment of Non-Current Assets for the Third Quarter Ended September 30, 2022

Novo Resources Corp. Updates Mineral Resource Estimate for the Beatons Creek Gold Project Located in the Nullagine Region of Western Australia

Novo Resources Corp. Provides Exploration Update on the Drilling Program in the Becher Area of the Egina District, Western Australia

Novo Resources Corp. Provides an Exploration Update on Projects Based in Western Australia and Victoria

Novo Resources Corp. Provides Production Guidance for the Third Quarter of 2022

Second quarter 2022 earnings released: CA$0.076 loss per share (vs CA$0.07 loss in 2Q 2021)

Novo Resources Corp. Provides Drilling Commences on Purdy’S North Gold and Nickel-Copper Targets

Novo Resources Corp. Provides an Update on Its Mechanical Sorting Program

Novo Resources Corp. Reports Additional Assay Results Received from the Current Diamond Drilling Program on Rl006587 At the Malmsbury Project, Approximately 50 Km Ssw of the High-Grade Fosterville Mine in Victoria, Australia

Novo Resources Corp. Production Guidance for the Third and Fourth Quarter of 2022

Novo Resources Corp. Provides Nullagine Gold Project Update

Novo Resources Corp. Provides Nullagine Gold Project Update

Executive Co-Chairman & Acting CEO recently bought €55k worth of stock

First quarter 2022 earnings released: CA$0.053 loss per share (vs CA$0.005 profit in 1Q 2021)

Novo Resources Corp. Reiterates Production Guidance for the First Half of 2022

Novo Resources Corp. Reports Significant Assay Results Received from the Current Diamond Drilling Program on Rl006587 At the Malmsbury Project

Novo Resources Corp. Announces Executive Changes

Novo Resources Corp. Revises Production Guidance for the First Half of 2022

Novo Resources Corp., Annual General Meeting, Jun 28, 2022

Novo Resources Corp. Reiterates Production Guidance for the First Half of 2022

Novo Resources Corp. Reports High-Grade Gold in Rock Chip Assay Results for Exploration Work Conducted in Fourth Quarter of 2021 At the Historic Pilgrims Rest Mine, Station Peak Gold Prospect

Novo Resources Corp. to Report High-Order Soil Sampling Assay Results at the Nunyerry North Gold Prospect in the West Pilbara

Novo Resources Corp. Provides Exploration Update

Novo Resources Corp. Provides Drilling Update for the Parnell-Vulture Trend in Western Australia

Investor sentiment improved over the past week

Novo Resources Corp. Announces Phase 2 Mechanical Sorter Trials Have Commenced At the Nullagine Gold Project

Novo Resources Corp and GBM Resources Limited JV Commences Inaugural Malmsbury Gold Project Diamond Drilling Program

Novo Resources Corp. Announces Completion of the Beatons Creek Mining Review

Novo Resources Corp. Identifies Ni-Cu Targets At Southcourt, Andover Intrusion, Adjacent to Azure’s Andover VC-07 Ni-Cu-Co Discovery

Novo Resources Corp. Provides an Update on Recent Exploration Work Conducted at Its 100% Controlled Talga Gold Project

Novo Resources Corp. Provides Update on Near-Mine Exploration Programs Focussing on Exploration Opportunities At Its Highly Prospective 100% Controlled NGP

Independent Director Yoshikazu Ishikawa has left the company

Independent Director Akiko Levinson has left the company