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Moly Mines Limited T.MOL



TSX:MOL - Post by User

Comment by OnDaBallon Nov 05, 2013 2:59pm
270 Views
Post# 21878346

RE:RE:RE:Good golly Mzzz Moly!!

RE:RE:RE:Good golly Mzzz Moly!!According to the Annual Report for 2012, David Pass was appointed as General Manager Operations on Dec 1, 2012 at a salary of $362K. His recent promotion to Acting CEO brought a pay increase of $73K to $435K, which is $103K less than Collin Thorp, the previous Acting CEO whom Pass replaced who was paid $538K. We have to assume that with Pass' background, MOL will be better positioned to acquire other mining operations that will contribute to a consistent revenue stream - exactly what is needed as the iron ore will be depleted some time in 2014. He is under a little bit of pressure as a 20% bonus will only be paid if he holds the office for 12 months and I assume that he will only be in that position at the end of that time if he has been successful in acquiring a profitable mining operation. JMHO
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