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5/12/15

My favourite bit of all the Allied Nevada (ex-ANV) (ANVGQ) filings today UPDATED

This bit in the MIC, filed today, which discussed remuneration for the Named Executive Officers (NEOs):
In May 2015, an increase in the base salary (for inflation) was granted to certain NEOs.  Mr. Wodzicki’s base salary was increased from $336,600 to $354,000, by approximately 5.1%, Mr. Carmichael’s base salary was increased from $234,600 to 242,000, by approximately 3.1%, and Mr. Beck’s base salary was increased from $180,000 to $186,000, by approximately 3.1%
To be clear:
  • Wojtek Wodzicki is the President and CEO
  • Robert Carmichael is the VP Exploration
  • James Beck is the Director of Corporate Development
  • And Allied Nevada is the company that filed for bankruptcy in March 2015


With that, Allied Nevada wins the 2015 Chutzpah of the Year Award. Breathtaking.

UPDATE next day. OK, enormous brain fart idiot post has now had lines put through it. I will explain how stupid I am by stating that you should never, ever have two Management Information Circulars open at the same time. And if you do, you should never read them late at night when you've been to the dentist, your brain is semi-frazzled and you've taken heavy duty painkillers.

In other words, I managed to confuse the contents of the MICs of NGEx and ANV. The above people work at NGEx and have nothing to do with ANV.

I thank the (so far four) readers that have mailed me about the stupid mistake I made. The explanation is above, but it's not an excuse. I was just plain wrong.

PS: We don't delete dumbo posts, we leave them up. Good for the ego work.