children of an idle brain

Peter Marrone’s fat salaries are only matched by his brass neck

IKN Nerve Centre receives a jolly missive from A. Person, a fine chappy with a long memory. See below. Did you know that Peter Marrone, head honcho of Yamana Gold (AUY) (YRI.to) and taker of pure cash salaries that make your eyes water used to justify his crazy take-home pay on this type of bullshit promise? This might explain why he never spends any of his dollar bills on Yamana shares. From here, “The Loaded List of 2011“.

Hola Otto, I
don’t know what’s funnier the salary or the pump mentioning 1.7 million
ounces by 2014.

of 1.05 million ounces of gold is quite a feat for a company that was
only formed in 2003. Yamana already has seven active mines and five in
development. Marrone, its CEO and chair, left investment banking to form
the start-up with a dozen employees. He says output is set to rise to
1.7 million ounces by 2014, as four of Yamana’s developing mines reveal
their riches.


And to be clear…

  • In 2016, Yamana produced 1.27m oz gold.
  • In 2015, Yamana produced 1.275m oz gold.
  • In 2014, Yamana produced 1.198m oz gold.

Also, current guidance for 2017 is less than 1.3m oz gold. So out of which part of his overpaid anatomy did Marrone extract 1.7m oz? 

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