Bonus ExplanationPosted on ceo.ca:emx
Thank you for contacting me with your concerns. It’s actually easy to justify these bonuses once you understand the company and how the employee pay is structured. Our staff worked thousands hours for seven years to make this transaction happen. The remuneration packages are structured so that the employees largely get paid wages that are below what they could earn working for larger companies or companies in other industries, but with provisions to provide the team with incentives to execute very lengthy and complex deals that may or may not come to fruition. Many of staff work far in excess of the standard forty hour week for years to get these things done. The sale of the Malmyzh asset would be an example of such. Employees are compensated for that from time to time by bonuses that they earn for their ability to work tirelessly for extended periods with great perseverance and oft times personal sacrifice to achieve what are commonly very difficult goals. This is no exaggeration. Please bear in mind that this transaction produced more capital for the corporate treasury than all of the money raised cumulatively throughout the fifteen year history of the Company. The bonuses alluded to in the news release amount to 6.8% of the net amount realized by EMX for completing the transaction. The team is being rewarded the equivalent of approximately 1% of the deal value per year for their unflagging efforts. Upon examination, I think that any reasonable person would agree that is a reasonable degree of compensation. If you have any other concerns or questions, please feel free to email or call me. Kind regards, Scott S. Close Director of Investor Relations