This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold closed down $13.40 to $1,185 Monday, falling as the U.S. dollar rose. The TSX Venture Exchange lost 1.10 points to 680.33 and the TSX Gold Index slipped 1.95 points to 158.44.

Major Canadian gold miners followed bullion down. Iamgold Corp. (IMG) dropped 17 cents to $2.39, Eldorado Gold Corp. (ELD) dropped 23 cents to $5.88, Goldcorp Inc. (G) lost 18 cents to $22.98 and Barrick Gold Corp. (ABX) lost eight cents to $14.13.

Barrick chairman John Thornton is once again under fire for his high compensation. He received $13.5-million in total pay last year, up from $9.5-million in 2013. Looking more closely, however, he received $5-million in cash, thanks to a $2.5-million salary and a $2.5-million bonus. Another $1-million went to his pension and other expenses, while $7-million was so he could buy more Barrick shares. The company's founder, Peter Munk, hired Mr. Thornton in June, 2012, in hopes the former Goldman Sachs president could turn things around. Then, the stock was trading at $41, a year low. It has since dropped to a 20-year low. This year, Mr. Thornton is trying to refocus the company on gold with his "Back to the Future" mantra. Apparently hiring well-known names is part of the plan. Barrick quietly added two politicians to its advisory board list in Friday's annual report. They are Canada's former Minister of Foreign Affairs, John Baird, and former U.S. lawmaker Newt Gingrich. Brian Mulroney is the advisory board's chairman. He retired as a Barrick director last April, but still received $1.36-million in salary and bonus last year.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS