Compensation Program 2020When I see the proposed compensation program 2021, I get angry and frustrated about the ongoing scheme that’s going on at IAMGOLD. The directors are in perfect shape to run their own in-house game. In a rising gold price environment, conditions are ideal to generate large cash flows to cover all their sins and short-comings. When they announce the 1st Quarter results and Annual 2020 financial reports, you can bet that you will read about large cash flows being generated, all our operations are self-funded including exploration expenses, and construction costs. This is all part of the window dressing. Plus, they will certainly mention the excessive amount of cash sitting idle in the bank 1B dollars. We’ve heard this spiel over and over. In my opinion, this money is an insurance fund to cover any emerging contingencies. In their deliberations, they never mention to undertake any cost cutting program to improve the bottom line, what a farce!! In 2022 and 2023, when the construction cost over-runs start to show-up and they fall behind the construction schedule, will this be covered by the huge cash flows or do they draw down the bank account? On a more serious note, I predict that when the compensation program is approved at the AGM on May 4th, 2021, the directors are going to feel more secure in their future and you will see a pattern of resignations one by one. Some of these Directors are at the end of their careers, (age 60’s and 70’s ). They’re not equipped and don’t have the desire or fortitude to cope with the challenges that lie ahead. Watch them abandon the ship. Shareholders, remember that the scheme they are operating is on the back of the shareholders!! I must say that what they are doing is quite legitimate and the authorities are unable to help us shareholders. We must take action ourselves, and vote against them at the Annual General Meeting.