Yamana Gold Executive Bonuses
Yamana Gold (NYSE:AUY) said it missed its profit numbers in the fourth quarter because of Executive bonuses, which drove up the selling, general and administrative costs of the company for the quarter.
Revenue was also down in the quarter, coming in at around $400 million when analysts had been looking for over $420 million.
More concerning for Yamana is the gold it claims is under the earth they dig didn't increase in 2009, giving the obvious impression they miscalculated the amount of provable reserves there in the first place.
Still, from an operational standpoint that's encouraging in that they were on top of costs in general because they were able to pay out bonuses while only missing the profit target per share by a penny.
Yamana Gold Executive Bonuses
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