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1/9/17

Yamana Gold (AUY) (YRI.to) fails to disclose its El Peñon problems

Despite the mine being around 18% of its total gold production and nearly all its silver too, Yamana Gold (AUY) (YRI.to) hasn't bothered to tell the market about the employee rebellion at its El Peñon mine in Chile, which started because YRI offered them a miserable 2% pay rise (nowhere near the underlying rate of inflation). The strike action was called, the protests got rowdy and millions of dollars worth of on site equipment was damaged by the near-riot conditions inside the mine on Friday and Satruday (which was also completely closed down and evacuated once police arrived).

At what point will Peter Marrone start acting like a real CEO instead of a joke cut-out copy of one?