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Junior copper explorer Alderan Resources will slash executive remuneration — effective immediately — to reduce corporate and administrative costs.

Alderan (ASX:AL8) told investors that chief exec Christopher Wanless would take a 13.7 per cent cut, from $219,000 to $189,000.

Exec director Brunop Hegner would also have his pay reduced 40 per cent, from $US216,000 to $US129,600.

These changes to executive remuneration were part of “company-wide cost reduction measures” so more cash could be funnelled into exploration at its highly prospective Frisco copper play in the US.

Alderan's crazy share price since listing in 2017.
Alderan’s crazy share price movement since listing in 2017.

It’s been a rollercoaster for Alderan investors

In the last 12 months Alderan’s share price has been hammered, falling over 90 per cent from about $1.50 to 14c, despite Frisco continuing to show a lot of promise.

But it was a very different story in 2017.

The explorer listed in June that year at 20c per share, and by October, its stock had peaked at an incredible $2.40 — up 1100 per cent.

It ended the year up 830 per cent on its issue price to be one of 2017’s best performing stocks.

The company was contacted for further comment.