EXPLORATION & DEVELOPMENT

PMI Gold takes axe to staff, exec pays

PMI Gold Corporation will reduce its exploration team and slash senior management and executive pays to preserve its strong cash balance as well as improve the economics of its flagship Obotan gold project in Ghana.

Lauren Barrett
PMI Gold takes axe to staff, exec pays

The company said it had moved decisively to reduce costs across the board while it attempted to secure finance for the $US296 million project ($A321.3 million). The company's cash balance of $102 million...

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