Ardea Resources Management

Management criteria checks 3/4

Ardea Resources' CEO is Andrew Penkethman, appointed in Apr 2019, has a tenure of 5.08 years. total yearly compensation is A$846.66K, comprised of 44.2% salary and 55.8% bonuses, including company stock and options. directly owns 0.96% of the company’s shares, worth $876.21K. The average tenure of the management team and the board of directors is 3.5 years and 3.8 years respectively.

Key information

Andrew Penkethman

Chief executive officer

AU$846.7k

Total compensation

CEO salary percentage	44.2%
CEO tenure	5.1yrs
CEO ownership	1.0%
Management average tenure	3.5yrs
Board average tenure	3.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Andrew Penkethman's remuneration changed compared to Ardea 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$847k	AU$375k	-AU$4m
Mar 31 2023	n/a	n/a	-AU$5m
Dec 31 2022	n/a	n/a	-AU$6m
Sep 30 2022	n/a	n/a	-AU$6m
Jun 30 2022	AU$619k	AU$350k	-AU$5m
Mar 31 2022	n/a	n/a	-AU$4m
Dec 31 2021	n/a	n/a	-AU$2m
Sep 30 2021	n/a	n/a	-AU$2m
Jun 30 2021	AU$441k	AU$297k	-AU$2m
Mar 31 2021	n/a	n/a	-AU$3m
Dec 31 2020	n/a	n/a	-AU$3m
Sep 30 2020	n/a	n/a	-AU$2m
Jun 30 2020	AU$381k	AU$268k	-AU$2m
Mar 31 2020	n/a	n/a	-AU$2m
Dec 31 2019	n/a	n/a	-AU$1m
Sep 30 2019	n/a	n/a	-AU$1m
Jun 30 2019	AU$274k	AU$67k	-AU$1m

Compensation vs Market: Andrew's total compensation ($USD559.81K) is about average for companies of similar size in the US market ($USD663.90K).

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

CEO

Andrew Penkethman

5.1yrs

Tenure

AU$846,662

Compensation

Mr. Andrew Penkethman, BSc, FAusIMM, MAIG, has been Chief Executive Officer and of Managing Director of Ardea Resources Limited since April 1, 2019 and February 5, 2020 respectively and also serves as its...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Andrew Penkethman	CEO, MD & Director	5.1yrs	AU$846.66k	0.96% A$ 876.2k
Rebecca Moylan	Chief Financial Officer	1.9yrs	AU$321.28k	no data
Ian Buchhorn	Technical & Executive Director	6.7yrs	AU$634.21k	6.97% A$ 6.4m
Robert Middlemas	Company Secretary	7.6yrs	AU$86.93k	0.38% A$ 350.8k
Matthew Read	Project Director	1.3yrs	AU$366.82k	no data
Matthew McCarthy	GM of Geology & Exploration	1.3yrs	no data	no data

3.5yrs

Average Tenure

Experienced Management: ARRR.F's management team is considered experienced (3.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Andrew Penkethman	CEO, MD & Director	no data	AU$846.66k	0.96% A$ 876.2k
Ian Buchhorn	Technical & Executive Director	7.8yrs	AU$634.21k	6.97% A$ 6.4m
Maree Arnason	Independent Non-Executive Director	less than a year	no data	0.0076% A$ 7.0k
Matthew Longworth	Independent Non-Executive Chair	3.8yrs	AU$248.52k	0.37% A$ 342.8k

3.8yrs

Average Tenure

Experienced Board: ARRR.F's board of directors are considered experienced (3.8 years average tenure).

Ardea Resources Management

Management criteria checks 3/4

Key information

Recent management updates

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

Ardea Resources Limited Appoints Maree Arnason as an Independent Non-Executive Director, Effective from 10 July 2023

Ardea Resources Limited Appoints Matthew Read as Project Director, Commencing 27 February 2023

Ardea Resources Limited, Annual General Meeting, Oct 28, 2022

Recent updates

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

Ardea Resources Limited Appoints Maree Arnason as an Independent Non-Executive Director, Effective from 10 July 2023

Ardea Resources Limited Presents the Summary Outcomes of the Pre-Feasibility Study Completed on Its 100%-Owned Kalgoorlie Nickel Project Goongarrie Hub

Ardea Resources Limited Reports an Update on the Prefeasibility Study

Ardea Resources Limited Appoints Matthew Read as Project Director, Commencing 27 February 2023

Ardea Resources Limited Announces Eastern Goldfields Projects Exploration Update

Ardea Resources Limited to Present Progress Report for the Kalgoorlie Nickel Project Goongarrie Hub

Ardea Resources Limited Provides Updates on Nickel Sulphide Exploration at its Emu Lake Prospect at the Kalpini Project

Ardea Resources Limited, Annual General Meeting, Oct 28, 2022

Ardea Resources Limited Provides Kalgoorlie Nickel Project Strategy Update

Ardea Resources Limited Announces Kalgoorlie Nickel Project Feasibility Study Update

Heron Resources Limited HRR Ordinary Shares to Be Deleted from OTC Equity

Ardea Resources Limited Confirms High-Grade Nickel-Cobalt from Goongarrie South Mineral Resource Estimate

Ardea Resources Limited Commences Drilling At the Emu Lake Nickel Sulphide Camp

Ardea Resources Limited announced that it expects to receive AUD 21.635287 million in funding

Ardea Resources Limited Provides an Update on Highway Nickel-Cobalt Deposit

Ardea Resources Limited Announces Emu Lake Nickel Sulphide Camp Follow-Up Program

Ardea Resources Limited Provides Goongarrie Hub Feasibility Study Update

Ardea Resources Limited Provides an Update on Nickel Sulphide Exploration Within Its Extensive Kalpini Project Near Kalgoorlie, Western Australia

Ardea Resources Limited announced that it has received AUD 5.7 million in funding from Petra Capital Pty Limited

Ardea Resources Limited Announces Btz Gold Update - Multiple Gold Intercepts Adjoining the Nickel-Cobalt Deposits

Ardea Resources Limited Announces Highway Nickel Deposit - Mineral Resource Estimate

Ardea Resources Limited Reports Assay Results for Emu Lake Prospect

Ardea Resources Limited (ASX:ARL) acquired an additional unknown minority stake in Kalgoorlie Nickel Project for AUD 1.8 million.

Ardea Resources Limited Announces Kalgoorlie Nickel Project ­ Feasibility Study Underway

CSIRO/Ardea Research At Goongarrie BTZ Insights for Nickel Sulphide and Gold Targets

Ardea Resources Limited Announces KNP Highway and Black Range - Nickel Sulphide Drilling Commences

Ardea Confirms Nickel Sulphide Drill Target Within the Kalgoorlie Nickel Project

Larvotto Resources Limited has signed an agreement to acquire Bedonia West project from Ardea Resources Limited (ASX:ARL) for AUD 0.2 million.

Ardea Resources Limited to Present an Updated JORC 2012-Compliant Mineral Resource Estimate Completed for the Goongarrie Nickel Cobalt Project

Moneghetti Minerals Limited has signed an agreement to acquire Bedonia East project from Ardea Resources Limited (ASX:ARL) for AUD 0.3 million.

Ardea Resources Limited Recommences Drilling at Zeus Gold Discovery

Ardea Resources Limited Announces Transfer of Mulga Plum Option Agreement

Farm-In Joint Venture Agreement Expands Red 5 Footprint in Close Proximity to Darlot Gold Mine

Ardea Resources Limited Announces the Zeus Gold Discovery Near the Big Four Gold Deposit

Ardea Resources Limited Announces Testwork Has Been Undertaken on Four Metallurgical Samples from Ardea's Big Four Gold Resource, Located on Granted Mining Lease Within the Goongarrie Nickel Cobalt Project

Ardea Resources Limited Reports High Priority Nickel Sulphide Targets At Its Emu Lake Prospect

Ardea Resources Limited announced that it has received AUD 3.500001 million in funding

Ardea Resources Limited announced that it expects to receive AUD 3.5 million in funding

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Ardea Resources Limited Announces Kalgoorlie Nickel Project Feasibility Study Underway