Gold mining: Shutterstock
The CEO of gold miner Troy Resources has taken a 25% pay cut as gold prices fall.
Paul Benson is currently paid $540,000, and will receive $135,000 less in the coming financial year, the Australian reports.
Troy also told investors at about midday yesterday that it would cut jobs in its Perth head office, South American exploration teams and at its Casposo and Andoinhas mine sites.
Senior executive base salaries and directors fees will be reduced by 10%, and bonuses will be paid in equity, instead of cash.
Via investing.com, here’s what Troy has been dealing with in the past two weeks:
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