RE:comparison for funsome more info for ya ...
Stephen Roman's Harte Gold Corp. (HRT), unchanged at 71 cents on 3.09 million shares, has arranged a bought-deal financing in which it is selling 32.26 million shares at 62 cents. The $20-million -- or as much as $25-million if the underwriters exercise their overallotment option -- is for development of the Sugar project in Northern Ontario, for regional exploration and for anything else that comes to mind. Harte completed a 70,000-tonne bulk sample at Sugar earlier this year and it has an initial production permit that would allow it to achieve production next spring, if it keeps to its latest timetable. Sugar was the subject of a five-year-old preliminary economic assessment that contemplated a 750-tonne-per-day mine projected to cost $108-million to build. The modest mine would be supported by 980,000 tonnes indicated at 10.13 grams per tonne and another 580,000 tonnes inferred at 8.36 grams per tonne, for a combined 475,000 ounces of gold. The six-year operation would average about 66,000 ounces of gold per year, enough to support a $92-million discounted net present value.
The Toronto-based Mr. Roman, chairman, president and CEO since 2009, earned a modest $90,000 per year in 2014 and $115,000 per year in 2015. He did much better last year, pulling in a hefty $300,000 per year in management fees. The company also gave big bumps to its other officers. Rein Lehari, chief financial officer, drew $180,000 last year, triple his 2014 pay, and Timothy Campbell, vice-president, received $216,000 last year, more than double the $90,000 he earned in 2014. Shareholders are unlikely to begrudge Harte's crew their raises, as its 71-cent shares cost just four cents early in 2015.