People Intelligence

The mining executive,
measured.

See what a mining executive actually delivered: production against guidance, resource growth, study-to-decision time, unit cost and dilution. On a peer set matched by commodity, stage and scale, with the filing behind every figure. That is what turns a pay benchmark into a judgement on whether they earned it.

The question on the table

Every seat in the room,
on one record.

One record covers the non-executive chair, the committee chairs, the chief executive and the operating team alike. A report can cover the board, the executives, or both, and the question put to any of them is the same: what happened on their watch, and what were they paid for it.

Remuneration committee

Did they earn it?

Board fees and executive pay set against delivery, production against guidance, cost, growth and return, on a genuine operating peer set, ready to defend in a say-on-pay season.

Investment committee

Before you back the team

A source-linked primer on the people running the asset, and the record they built, before diligence starts.

Executive search

To make the shortlist institutional

A public-disclosure record of what each candidate actually delivered, under the recruiter’s own letterhead.

Where it fits your process

A primer before the decision.
A benchmark after it.

The same engine serves both ends of the holding period: a fast, source-linked read where the alternative is a report too slow or too costly to commission, and a recurring benchmark for the executives and boards you already oversee.

Pre-investment

Brief the committee in a day, not a month

A source-linked primer on the executives and the record they built, so the questions are sharp before anyone sits down.

Management due diligence →

Post-investment

Hold the team to what it is paid

An annual read on executive and board pay set against delivery, on a real operating peer set, for every company you hold a seat on.

Board and executive compensation →

The reports

One engine,
from a fee check to a full accountability review.

Every report is built from the same validated record and the same method. What changes is how far you go, from a single fee benchmark a director reads in a minute, to a full assessment of the executive team’s pay against what it delivered. Each worked example below is generated from live disclosure.

The core report · Executive pay & performance

Executive pay, set against delivery

The question a remuneration committee actually convenes to answer: is what we pay our executives justified by what they delivered? Three lenses, what they are paid, how the pay is structured, and, uniquely, pay set against production versus guidance, cost, growth and shareholder return.

This is the say-on-pay artefact, and the layer only Pulse can build, because only Pulse holds the operating record beside the pay.

Board and executive compensation →

Pay against delivery, per executive, on a matched peer set.

Entry · Board fees

Priced against its peers

“Is the board paid in line?”

The entry tier: a board’s fees against a matched cohort on one comparable basis. Worked example: Ramelius against five Australian gold producers, on a superannuation-normalised basis.

Individual · Track record

What happened on their watch

“What did this person deliver, every seat?”

One person, every dated seat, with the operating outcome attached: the path to the C-suite, delivery, capital and pay in one place. Produced on the individual you name.

Individual track records on demand →

Cohort · Peer comp

Ranked against a matched set

“How does that compare to true peers?”

The full comparison, build time, permitting, resource growth, capital and pay, across a matched cohort, every measure ranked. Worked example: Richard Hyde, West African Resources.

Above the reports sits a Committee Grade, carrying bespoke measures and the questions to ask, reviewed by an analyst. At the top of it, a signed Authored Opinion: an analyst puts an opinion to the record and stands behind it. One engine throughout.

What gets measured

Standard, or built around
the question you are asking.

Every report is built from the same validated record, so a standard report can be taken deeper on any area below, or shaped around a question that is not on this list at all: a pre-investment primer, an annual review of a board you sit on, or a re-run on the people who have changed since you last looked. Each measure carries its basis and the filing it came from, and every report closes with the questions to put to the team.

The path to the seat

Every role before the C-suite, dated, so the route a chief operating officer took to the seat is visible rather than assumed.

Projects built

Which mines they took from study to production, and whether each landed on the schedule the study set and against the capital it was costed at.

The decision, not just the build

Months from a finished feasibility study to ground broken, held apart from months spent building, because the two measure different things about the person in the seat.

Permitting

Time from environmental approval to the mining permit, the wait between permit and ground, and every change to a permit already held.

Growth in the ground

Ore reserve at the start and end of the window, with the ownership basis and effective date each company reported on.

Production against guidance

Delivered against the guidance set at the start of the year, held apart from delivery against guidance that was revised during it.

Unit cost

All-in sustaining cost read against the cohort rather than in isolation, since it is the one operating measure that is not a function of the commodity price.

What it cost to get there

Every equity raising in the window, named and dated, alongside debt and streaming, because a share price that rose on continuous issuance is a different achievement.

What they are paid

Total remuneration from the company’s own report or circular, scaled per US$1m of company value and per ounce produced, with the fixed and performance split beside it.

Shareholder return

Over a window every company in the cohort shares, and over each person’s own tenure with the length of that tenure shown beside it.

Dilution per share

Cumulative dilution across the tenure, and how much of the share price change survives once it is read on a per share basis.

Alignment

Director dealings through the tenure, separating an on-market purchase from an option exercise, because only one of them is a decision to buy.

Reserve life

Reserve life at current production, and whether the reserve is being grown or quietly mined down.

State and fiscal terms

Changes to state ownership and fiscal terms on assets already permitted and already built, which is where jurisdiction risk actually lands and it lands on the chief executive.

The seat before them

The previous holder’s own window, measured the same way, because a seat that changed hands recently has two records and only one of them is the incumbent’s.

Method

How a figure gets
onto the page.

The moment a report sets pay against the delivery of a named executive it becomes a publisher, so every figure has to survive being challenged by the person it describes. The method is built to be defended, not just delivered.

Outcomes read from filings, not surveyed

Licensed data resolves who a person is and which seats they held. Every operating outcome and every pay figure on top of that is read from the company’s own filings, extracted, typed and normalised so a figure disclosed one way in one circular and another way in the next can sit in the same column. An analyst checks it before it lands. No figure here is a survey aggregate or a self-reported estimate.

Every figure carries a date and a source

One click reaches the original document and the day the number was true. Nothing on the page is unsourced, and vintages are never mixed.

Peers are built on operating scale

Cohorts are matched on commodity, development stage and size before market value, not the revenue-and-GICS bands that mix a producer with a developer.

Facts are kept apart from characterisation

The report states measured outcomes in a stated window, with their basis and sample size, and more than one window where a single one would mislead. The judgement stays with the reader. Where you want a call rather than a measure, it comes as a signed Authored Opinion from a named analyst, never buried in the data.

The ladder

From a fee check
to a signed opinion.

Fee benchmark

Board and executive pay against a matched cohort.

Pay & performance

What they are paid, set against what they delivered.

Peer comp

The full record, ranked across the cohort.

Committee grade

Bespoke measures and the questions to ask.

Authored opinion

The top tier. A named analyst puts an opinion to the record, with a recommendation where you want one, and signs it.

Scope

What the report is,
and what it is not.

It measures what happened on a named executive’s watch in a stated window, and cites the source behind every figure. Everything below is what it does not do.

The report itself does not issue a verdict. It sets pay beside measured delivery in a stated window and cites the source of each. It does not say a person is good or bad, or that they caused an outcome. Where you want that call made and signed, it is a separate Authored Opinion.
It does not rank on a single window. A three-year return flatters an executive who re-rated inside it and penalises one who re-rated before it, so more than one window is always shown.
It does not publish a grade without its components. A single graded verdict on an executive arrives only once a human management diligence stands behind it. Until then the measures are shown, not collapsed into a letter.
It does not speak to anyone. No interviews, no backchannel referencing, no read on character. Everything here comes from the record, which is what makes it repeatable and what lets you run it without approaching the person. Reference checking answers a different question, and the section below is where the two meet.
It does not replace integrity diligence. It sits after the screen that clears a person, and prices the record they left. It is a complement, not a substitute.
It does not hide a thin sample. Where a window is short or a cohort small, the page says so, because a short record is not evidence of anything.

The two layers

The record answers questions.
It also raises them.

Pulse measures what disclosure can prove. What it cannot reach is character, judgement under pressure, and how someone is regarded by the people who worked for them. That is human-led referencing, whether you buy it from a specialist firm or do it yourself, and it is a different discipline. The two are stronger together, which is why every report closes with the questions to take into the second one.

On its own

Where nothing else would be commissioned

On a smaller cheque, or an M&A process moving in days, a full management diligence is never commissioned at all. The record is the diligence you get, and it arrives in a day rather than in weeks.

Before the referencing

As the brief for the people who do the talking

Who to ask about what: which build slipped and which did not, which raising diluted, which seat changed hands straight after a regulatory event. And who to ask, drawn from the people who held seats alongside them and the windows where those tenures overlapped.

Into the grade

Where the two halves meet

The qualitative findings come back and sit against the measures. A single graded verdict on a person only becomes defensible at that point, which is why nothing here publishes one before it.