Post says no gold in Ghana but chief strikes paydirt
Golden Rule Resources Ltd GNU
Shares issued 26,654,081 Feb 19 close $0.97
Fri 20 Feb 98 In the News
Also Hixon Gold Resources Inc (HXG)
The Financial Post reports in its Friday, February 20, edition that
contrary to glowing reports by Golden Rule Resources early last year, there
was no gold in Ghana, nonetheless, president Glen Harper did quite well,
new documents show. The Post's Peter Kuitenbrouwer writes that Mr Harper
netted almost $840,000 in salary, compensation and by exercising options
last year from the company and its subsidiaries even as its stock went
bust. A management proxy circular filed before the company's annual meeting
in March shows Mr Harper earned $588,800 by exercising 184,000 Golden Rule
shares last year. He also received a salary of $92,400, up 60 per cent from
$58,400 the year before, and $125,000 "in his capacity as a consultant or
expert" through Golden Rule consultants Hardscrabble Resources. Then
there's $33,000 for his work as president of three subsidiaries. Last year
when the shares were collapsing Mr Harper told analysts, "I'm eating my own
cooking," referring to his large holdings in the company.
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