RE:RE:Feb.26 slide show and salaries - I understandI agree columbus, pay is not the market cause of a market crash, it will be bond returns and the Super high PE ratios
But what prompted me to write was page 3 of the February 26 presentation
1) Production 4th quarter 83 000 vs 293 000 yearly ---- this is good in a way, but not that good when you look at costs.
2) Operating cash costs 4th quarter $577 vs $509 yearly - Dang ! that is $68 over the yearly average and if you multiply this by 83 000 ounces that is approx. 7.2 million dollars more cost. Our CEO not counting other senior staff is , at 18 million (4.5 million for the quarter), contributing to over 50% of that cost
3)AISC of 1047 vs $900 for the year . My goodness, that is $147 over the yearly average. This looks unencouraging
4) The average of the gold price is 1281 for the quarter vs an average 1263 for the year. The $18 difference times 83 000 ounces is only approximately 1.6 million.
In the 3rd quarter ELD lost .01 per share, in the 2nd quarter it made .02 per share. I can now imagine the 4rth quarter. Like I said there better be better news out there soon.
Imagine now the other salaries of senior management and add them to the total salaries and you see why ELD in its current state is like on LSD when continuing to grant these salaries.