Pantoro Management

Management criteria checks 2/4

Pantoro's CEO is Paul Cmrlec, appointed in Apr 2011, has a tenure of 13.58 years. total yearly compensation is A$1.24M, comprised of 41.1% salary and 58.9% bonuses, including company stock and options. directly owns 0.14% of the company’s shares, worth €602.79K. The average tenure of the management team and the board of directors is 10.1 years and 2.8 years respectively.

Key information

Paul Cmrlec

Chief executive officer

AU$1.2m

Total compensation

CEO salary percentage	41.1%
CEO tenure	13.6yrs
CEO ownership	0.1%
Management average tenure	10.1yrs
Board average tenure	2.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Paul Cmrlec's remuneration changed compared to Pantoro's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	AU$1m	AU$508k	-AU$49m
Mar 31 2024	n/a	n/a	-AU$47m
Dec 31 2023	n/a	n/a	-AU$45m
Sep 30 2023	n/a	n/a	-AU$60m
Jun 30 2023	AU$891k	AU$480k	-AU$75m
Mar 31 2023	n/a	n/a	-AU$65m
Dec 31 2022	n/a	n/a	-AU$56m
Sep 30 2022	n/a	n/a	-AU$33m
Jun 30 2022	AU$863k	AU$468k	-AU$11m
Mar 31 2022	n/a	n/a	-AU$3m
Dec 31 2021	n/a	n/a	AU$4m
Sep 30 2021	n/a	n/a	AU$8m
Jun 30 2021	AU$749k	AU$480k	AU$12m
Mar 31 2021	n/a	n/a	AU$9m
Dec 31 2020	n/a	n/a	AU$5m
Sep 30 2020	n/a	n/a	-AU$12m
Jun 30 2020	AU$731k	AU$480k	-AU$29m
Mar 31 2020	n/a	n/a	-AU$27m
Dec 31 2019	n/a	n/a	-AU$25m
Sep 30 2019	n/a	n/a	-AU$12m
Jun 30 2019	AU$471k	AU$130k	AU$833k
Mar 31 2019	n/a	n/a	AU$3m
Dec 31 2018	n/a	n/a	AU$5m
Sep 30 2018	n/a	n/a	AU$9m
Jun 30 2018	AU$752k	n/a	AU$14m

Compensation vs Market: Paul's total compensation ($USD812.01K) is below average for companies of similar size in the German market ($USD1.18M).

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

CEO

Paul Cmrlec

13.6yrs

Tenure

AU$1,235,560

Compensation

Mr. Paul Mathew Cmrlec, BEng (Mining), Honours, MAusIMM, served as Non-Executive Director at Maximus Resources Limited since October 18, 2021 until January 27, 2023. He has been Managing Director of Pantor...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Paul Cmrlec	CEO, MD & Executive Director	13.6yrs	AU$1.24m	0.14% € 602.8k
Scott Balloch	Chief Financial Officer	10.1yrs	AU$828.70k	0.018% € 79.2k
Scott Huffadine	Chief Operating Officer	8.7yrs	AU$1.04m	0.049% € 212.6k
David Okeby	Company Secretary	10.1yrs	AU$787.98k	0.025% € 110.7k

10.1yrs

Average Tenure

Experienced Management: RKN's management team is seasoned and experienced (10.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Paul Cmrlec	CEO, MD & Executive Director	14.4yrs	AU$1.24m	0.14% € 602.8k
Colin McIntyre	Independent Non-Executive Director	1.4yrs	AU$88.80k	0% € 0
Fiona Van Maanen	Independent Non-Executive Director	4.3yrs	AU$102.12k	0.0037% € 16.0k
Kevin Maloney	Non-Executive Director	1.4yrs	AU$95.46k	0.25% € 1.1m
Mark Maloney	Non-Executive Director	1.4yrs	AU$108.78k	0.11% € 498.6k
Wayne Zekulich	Independent Non-Executive Chairman	5.1yrs	AU$150.96k	0.010% € 43.8k

2.8yrs

Average Tenure

61yo

Average Age

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

Pantoro Management

Management criteria checks 2/4

Key information

Recent management updates

Pantoro Limited Announces Colin McIntyre to Retire from the Board

Independent Non-Executive Director recently sold €53k worth of stock

Pantoro Limited, Annual General Meeting, May 29, 2024

Independent Non-Executive Director recently sold €211k worth of stock

Independent Non-Executive Director recently sold €93k worth of stock

Pantoro Limited, Annual General Meeting, Nov 06, 2023

Recent updates

Pantoro Limited Announces Colin McIntyre to Retire from the Board

Full year 2024 earnings released: AU$0.009 loss per share (vs AU$0.037 loss in FY 2023)

Pantoro Limited has filed a Follow-on Equity Offering in the amount of AUD 100 million.

Pantoro Limited has completed a Follow-on Equity Offering in the amount of AUD 88.303825 million.

Independent Non-Executive Director recently sold €53k worth of stock

Pantoro Limited, Annual General Meeting, May 29, 2024

First half 2024 earnings released: AU$0.003 loss per share (vs AU$0.028 loss in 1H 2023)

Independent Non-Executive Director recently sold €211k worth of stock

New major risk - Financial position

Independent Non-Executive Director recently sold €93k worth of stock

New major risk - Financial position

New minor risk - Market cap size

Full year 2023 earnings released: AU$0.037 loss per share (vs AU$0.007 loss in FY 2022)

New minor risk - Financial data availability

Pantoro Limited, Annual General Meeting, Nov 06, 2023

Pantoro Limited has completed a Follow-on Equity Offering in the amount of AUD 30 million.

Pantoro Limited has completed a Follow-on Equity Offering in the amount of AUD 30 million.

Less than half of directors are independent

First half 2023 earnings released: AU$0.028 loss per share (vs AU$0 in 1H 2022)

Pantoro Limited (ASX:PNR) entered into a implementation deed to acquire Tulla Resources Plc (ASX:TUL) from Tulla Resources Group Pty Limited and others for approximately AUD 140 million.

Beacon Minerals Limited (ASX:BCN) acquired 19.82% stake in Maximus Resources Limited (ASX:MXR) from Pantoro Limited (ASX:PNR) for AUD0.042 per share.

Beacon Minerals Limited (ASX:BCN) agreed to acquire 19.82% stake in Maximus Resources Limited (ASX:MXR) from Pantoro Limited (ASX:PNR) for AUD0.042 per share.

Pantoro Limited has completed a Follow-on Equity Offering in the amount of AUD 28.5 million.

Pantoro Announces Lamboo PGE Drilling Identifies New High Grade Reef System with Nickel and Copper Sulphides

Pantoro Limited Provides Results as It Advances the Phase Two Exploration Drilling Program Targeting the High Grade Mainfield At the Norseman Gold Project

Pantoro Limited Announces First Gold Poured At the Norseman Gold Project

Pantoro Limited, Annual General Meeting, Nov 28, 2022

Full year 2022 earnings released: AU$0.007 loss per share (vs AU$0.009 profit in FY 2021)

Pantoro Limited Reports Initial Results from Norseman Lithium JV

An unknown buyer acquired an unknown minority stake in Pantoro Limited (ASX:PNR) from Tulla Resources Group Pty Limited.

Pantoro Limited Provides an Update of Project Construction and Mining Activities At the Norseman Project

Pantoro Limited Provides an Update of Project Construction and Mining Activities At the Norseman Project

Pantoro Limited Announces an Update to the Mineral Resource and Ore Reserve At the Green Lantern Deposit, Part of the Scotia Mining Centre At the Norseman Project

Pantoro Limited Announces Update to the Mineral Resource and Ore Reserve At the Green Lantern Deposit, Part of the Scotia Mining Centre At the Norseman Project

Pantoro Limited Announces Drilling Results from Green Lantern at the Norseman Project

Pantoro Limited to Advise That the Initial 2022 Step Out Drilling at the Lamboo

Independent Non-Executive Director recently bought €55k worth of stock

Pantoro Limited Provides an Update of Project Construction and Mining Activities At the Norseman Project

Pantoro Limited Provides an Update on the PGE Potential on Its Tenure in the Norseman Region

Pantoro Limited Announces 20,000 M Drill Programme Commences at Lamboo PGE Project

Pantoro Limited Announces an Update to the Mineral Resource Estimates and Ore Reserve At the Scotia Deposit

First half 2022 earnings: Revenues and EPS in line with analyst expectations

Pantoro Limited Announces the Results from the Drilling Completed Late Last Year Prior to the Wet Season

Pantoro Limited Announces Operations Update At Both Its Norseman and Halls Creek Projects

Pantoro Limited Announces Significant Lamboo PGE Strike Extension

Pantoro Limited Announces Lamboo PGE Drilling to Continue

Full year 2021 earnings released: EPS AU$0.009 (vs AU$0.025 loss in FY 2020)

Pantoro Limited Provide Its Annual Mineral Resource and Ore Reserve Statement

Pantoro Limited Announces Maiden Mineral Resource Estimate and Ore Reserve at the Green Lantern Deposit, Part of the Scotia Mining Centre at the Norseman Gold Project

Pantoro Limited Provides Results from its Initial Drilling Program Targeting the Historic Mainfield at the Norseman Gold Project

Pantoro Limited Announces Third New Discovery At the Scotia Mining Centre

Pantoro Limited Announces Further High-Grade Results from A Ten Hole Infill Drilling Program on the Sailfish Prospect on Lake Cowan At the Norseman Gold Project

Pantoro Limited Identifies High Grade Mineralisation at the Lord Percy Deposit

Pantoro Limited Announces Deep Drilling At Scotia Confirms High Grade Mineralisation

First half 2021 earnings released: EPS AU$0.006 (vs AU$0.022 loss in 1H 2020)

GR Engineering Services Limited Receives Letter of Intent from Pantoro Limited for the Engineering, Procurement and Construction of a New Processing Plant for its Norseman Gold Project

Pantoro Limited Provides Update on its Regional Exploration Activities at its 100% Owned Halls Creek Project, Located in the East Kimberley Region in Western Australia

Pantoro Limited Announces Further High Grade Results from the Sailfish Prospect

Pantoro Limited Announces the Presence and Continuity of Two Additional High Grade Lodes at the Wagtail Underground Mine at the Halls Creek Project

Pantoro Limited Announces Its Definitive Feasibility Study Confirms Attractive Economics and Mine Life for Phase One Norseman Restart

Full year earnings released - €0.025 loss per share

Pantoro Limited Announces Halls Creek Project Mineral Resource & Ore Reserve Update

Pantoro Limited announced that it has received AUD 50 million in funding

Pantoro Limited has completed a Follow-on Equity Offering in the amount of AUD 5.500072 million.

Pantoro Limited announced that it expects to receive AUD 50 million in funding

CEO Compensation Analysis

CEO

Tenure

Compensation