A speech that I do not endorseDoubting the legitimacy of executive salaries and bonuses because the financial results are below your expectations is not rational. If these results are in line with forecasts in the annual MD&A and you are still not satisfied, you are to blame.
We had the containment of operations in 2020-Q2, significant constraints related to the preparation of an exceptional rainy season in 2020-Q3, the overthrow of political power in August 2020 and finally, the stripping of 4 new pits in 2020 -T4. Ultimately, the annual results are almost in line with the forecasts produced before the pandemic. It is dishonest to ignore all of these events to express your dissatisfaction. For my part, I consider the management team to be a masterstroke. That being said, we also had for this period a significant increase in mineral reserves, which will ensure the sustainability of the plant for another 10 years.
Regarding the financial results for 2021-Q1, we noted significant investments related to the progress of the stripping of the 4 new pits. Stripping these pits is the necessary step to reach and mine the mineral that will generate hundreds of millions of dollars in revenue. Robex is currently in the greatest period of investment in its history and to question the legitimacy of salaries at this precise moment is the demonstration of the lack of understanding of the Nampala project, an absence of vision and the lack of consideration for all challenges faced by the management team over the last 3-4 quarters.
Is it necessary to explain to you that the quality of a management team is not limited to the net profit, the EBITDA or the stock price?
Is it necessary to list for you all the challenges that Team Cohen has faced since 2013 and the reassurance that comes from a team as dedicated as it is competent?
Is it necessary to remind you that Robex exploits low grade ores and that the cost of production per ounce of gold is among the lowest in the world?
Is it necessary to explain to you that gold mining requires ongoing investments for both exploration and production?
Is it necessary to explain to you that an average gold grade does not mean that the grade is homogeneous and that it is normal that the income that will result from its exploitation can fluctuate considerably?
@Studpuppy: You know how much I appreciate you. But here I have to tell you that your last post is more than questionable and that your friends deserved a better response. Take your responsibilities, you are capable of doing better.